Summary of Revisions
Effective January 1, 2025, the revisions of the Financial Accounting Manual for Federal Reserve Banks (FAM) clarify policy guidance around credit losses and update the description of the discount window lending programs.
Summary of Revisions
Chapter 8: Special Topics
The descriptions of the Reserve Bank's lending programs were updated, and the language was better aligned with the accounting standard for credit losses.
- Paragraph 81.02—Recognizing an Allowance for Credit Losses
- Paragraph 81.07—Program Specific Analysis
- Paragraph 81.09—Modifications to Debtors Experiencing Financial Difficulty