Financial Reporting Resource Center: Financial instruments

Credit impairment

Financial Reporting Insights articles

• OCC issues Comptroller’s Handbook on allowances for credit losses
• Ongoing updates to Coronavirus: Financial reporting considerations
• Lender accounting for PPP loans prior to loan repayment or forgiveness
• TQAs address COVID-19-related lender accounting issues
• Updates to Coronavirus: Financial reporting considerations
• Temporary CECL relief for certain insured depository institutions
• Accounting for freestanding insurance contracts under ASU 2016-13
• Coronavirus: Financial reporting considerations
• ASU 2020-03 addresses various financial instruments topics
• Final interagency policy statement on allowances for credit losses
• Credit losses: FASB codifies SAB 119
• New broadly applicable financial instruments guidance taking effect
• SEC Staff Accounting Bulletin No. 119
• Narrow-scope amendments to credit losses standard
• ASUs defer various effective dates (including CECL & leases)
• Second FASB Staff Q&A document: Estimating expected credit losses
• Proposed narrow-scope amendments to credit losses standard

White papers and other resources

• Loan loss allowance for specialty lenders is a key due diligence issue
• ASC 326: Credit losses—Abbreviated readiness checklist for nonlenders
• A guide to accounting for investments, loans and other receivables (updated for new financial instrument guidance, including credit losses/CECL)

Derivatives and hedging

Financial Reporting Insights articles

• FASB proposes to expand hedge accounting
• Accounting for modifications of call options, including warrants
• Accounting for warrants and other instruments issued by SPACs
• Early adoption of ASU 2020-06
• Elections required for LIBOR-based hedging relationships 
• Updates to our hedging guide for reference rate reform
• FASB clarifies scope of reference rate reform guidance
• Proposal to clarify scope of reference rate reform guidance
• Convertible instruments and contracts in an entity’s own equity
• Coronavirus: Recent developments in financial reporting considerations
• Cash flow hedge accounting affected by the COVID-19 pandemic
• Updates to Coronavirus: Financial reporting considerations
• Coronavirus: FASB staff provides guidance on various issues
• Accounting guidance for the effects of reference rate reform
• Coronavirus: Financial reporting considerations
• Clarifying the interactions between ASC 321, ASC 323 and ASC 815
• Proposed clarifications to the derivatives and hedging standard
  
• ASUs defer various effective dates (including CECL & leases)

White papers and other resources

• Optional accounting expedients can make LIBOR transition easier
• A guide to hedge accounting upon the adoption of ASU 2017-12

Other financial instrument issues

Financial Reporting Insights articles

• Interest capitalization for mandatorily redeemable instruments
• COVID-19: Clarification on interagency statement on loan modifications
• Reevaluate debt securities with noncontingent call options
• Borrower and lender accounting for Main Street Lending Program loans
• ASC 860 legal isolation criterion for sale of participation under MSLP
• Small Business Administration's new FAQ on PPP loan forgiveness
• Convertible instruments and contracts in an entity’s own equity
• Optional accounting expedients can make LIBOR transition easier
• Coronavirus: Lender accounting for PPP loans
• Webinar on interagency statement on loan modifications and reporting
• Temporary relief for financial institutions: TDR accounting
• Coronavirus: Interagency statement on loan modifications
• Accounting guidance for the effects of reference rate reform
• Accounting for freestanding insurance contracts under ASU 2016-13
• Coronavirus: Financial reporting considerations
• ASU 2020-03 addresses various financial instruments topics
• New broadly applicable financial instruments guidance taking effect

White papers and other resources

• Financial institutions: Fundamentals of LIBOR phase out and transition
• A guide to accounting for investments, loans and other receivables (updated for new financial instrument guidance, including credit losses/CECL)
• Accounting for mortgage purchase programs