Our Loans and investments guide provides guidance on the accounting for loans and investments, including the recognition of interest income and impairment. Certain sections of the guide have been updated to improve clarity, to reflect the most recent interpretive guidance, and for recent standard setting, including ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (which is effective beginning in 2018) and ASU 2016-13, Measurement of Credit Losses on Financial Instruments (effective beginning in 2020). Our guide assumes these new standards have already been adopted.
Our Loans and investments guide discusses:
Certain updates were made to incorporate guidance relating to equity investments, transfers of loans between held for investment and held for sale, foreclosures and sales of real estate owned, presentation and disclosure and transition. See Appendix D, Summary of significant changes, for information on these updates.
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