Authority, purpose, and scope.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (i) Generally accepted accounting principles (GAAP) under § 702.402(d)(1)(i); or (ii) In the case of Federally-insured, State-chartered credit unions, any other applicable standard under State law or regulation under § 702.402(d)(1)(ii)(B). (2) The transition provisions of this subpart do not apply to Federally-insured credit unions, whether Federally or State-chartered, including credit unions defined as “new” pursuant to section 1790d(b)(2), that make charges for loan losses using a reasonable reserve methodology under § 702.402(d)(1)(ii)(A).

official document · source cfr-2024 · id 12:§ 702.701