Goodbye TDRs, hello loan mods and vintage disclosures: FAQ

Questions about disclosure requirements under ASU 2022-02? Crowe specialists have answers regarding the new standard.

• Elimination of TDRs. Removes the requirement to classify certain loan modifications as troubled debt restructurings (TDRs), simplifying the accounting process.
• Loan modifications. Provides guidance on how to account for and disclose loan modifications under the new standards.
• Vintage disclosures. Introduces the requirement for vintage disclosures, which involve reporting the year of origination for loans.
• Impact on financial reporting. Discusses the implications of these changes for financial reporting and the need for updated policies and procedures.
• Implementation guidance. Offers practical advice for implementing the new standard and ensuring compliance.

This FAQ can help organizations navigate the transition to the new accounting standard effectively.