Until the new accounting standard becomes effective, institutions must continue to follow

current U.S. GAAP on impairment and the allowance for loan and lease losses (ALLL).  Each

institution also should continue to refer to the agencies’ December 2006 Interagency Policy

Statement on the Allowance for Loan and Lease Losses, and the policy statements on allowance methodologies and documentation

(collectively, the ALLL policy statements) until the effective date of ASU 2016-13 applicable to the institution.

The agencies will not rescind existing supervisory guidance on the ALLL until CECL becomes effective for all institutions