Its annual update to the Bank Accounting Advisory Series (BAAS), with answers to frequently asked questions (FAQs) and updates on accounting industry standards, was released Friday by the Office of the Comptroller of the Currency (OCC).
The OCC, in Bulletin 2026-38, said its 2026 edition of the BAAS reflects updates to accounting standards issued by the Financial Accounting Standards Board (FASB) on such topics as purchased loans, government grants, and internal-use software. It includes staff responses to FAQs from the banking industry and bank examiners on a variety of accounting topics “and promotes consistent application of accounting standards and regulatory reporting among banks,” it said.
The advisory series does not represent OCC rules or regulations, the agency said, rather, it provides the agency chief accountant’s office’s interpretations of generally accepted accounting principles (GAAP) and regulatory guidance on facts and circumstances presented.
It said Friday’s bulletin rescinds OCC Bulletin 2025-20, “Accounting: Bank Accounting Advisory Series Updated,” which was issued for last year’s BAAS edition.
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