On Friday, NCUA issued some Supervisory Guidance on Accounting Bulletin 09-02.
- Access Accounting Bulletin 09-02 here.
- As of this posting, NCUA had not posted the Supervisory Guidance to its website. NAFCU received an early copy, and we drafted an overview for NAFCU Today. Access that article here.
- Here's a copy of the guidance that I was able to obtain. Download Accounting Bulletin 09-2 Supervisory Treatment (Don't say I never gave you anything.) Again, it hasn't been posted officially to the website yet, but it should be there shortly - if not already.
I'll leave you to read the materials for yourself and your credit union's accounting team. But just what is Supervisory Guidance? It is information that NCUA gives to its examination team to help it enforce an NCUA regulation, rule or other type of requirement. Is it law? No. Is it a regulation? No. But this is what your examiner will be reading when he or she reviews how you've treated the Corporate Stabilization-related transactions from an accounting point of view.
For that reason, Supervisory Guidance is not something to take lightly.
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