Requirements for Insurance
12 CFR 741_Appendix B – Interpretive Ruling and Policy Statement on Loan Workouts, Nonaccrual Policy, and Regulatory Reporting of Troubled Debt Restructured Loans.
This Interpretive Ruling and Policy Statement (IRPS) establishes requirements for the management of loan workout arrangements, loan nonaccrual, and regulatory reporting of troubled debt restructured loans….
This IRPS applies to all federally insured credit unions.
Under this IRPS, TDR loans are as defined in generally accepted accounting principles (GAAP) and the Board does not intend through this policy to change the Financial Accounting Standards Board’s (FASB) definition of TDR in any way. In addition to existing agency policy, this IRPS sets NCUA’s supervisory expectations governing loan workout policies and practices and loan accruals.