FASB proposes amendment on TDRs and vintage disclosures

Defining Issues | November 2021

Proposed ASU would eliminate TDR recognition and measurement guidance for creditors, and require new disclosures.

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For entities that have adopted the credit impairment standard, the proposed ASU would eliminate troubled debt restructuring recognition and measurement guidance for creditors, and require new disclosures.

Applicability

Proposed ASU

  • Entities that have adopted the credit impairment standard (ASU 2016-13)

Relevant dates

  • November 23, 2021 – FASB issued proposed ASU
  • December 23, 2021 – Comments due

Key Impacts:

    The proposed ASU would:

    • Eliminate the requirement for creditors to recognize and measure certain modifications as troubled debt restructurings.
    • Enhance the disclosure requirements for loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty.
    • Require public business entities to disclose current-period gross writeoffs by year of origination for the related financing receivables and net investments in leases.

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    KPMG comment letter

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