itigroup's allowance for loan losses
was $12.5B at quarter end, or 1.82% of total loans, compared to $12.1B, or 1.81% of total loans, at the end of the prior-year period.
Total loans receivable before allowance for loan losses
increased USD 123.5 million, or 6%, to USD 2.2 billion at March 31, 2019, compared with USD 2.1 billion at December 31, 2018.
This provided sufficient growth in the Allowance for Loan Losses
to maintain its adequacy even though the amount of loans increased.
Howe also has extensive experience working with credit unions on accounting for mergers, fair value measurements, allowance for loan losses
, and troubled debt restructuring.
However, asset quality continues to be a primary focus in this weakened economy and we continue to maintain a healthy allowance for loan losses
of 2.29 percent of loans at March 31, 2011.
But the bank allowance for loan losses
, as a percentage of total loans remained the same: about 1.2 percent.
The loss was primarily due to additions to the allowance for loan losses
The prior-year loss included the effect of a noncash increase in the allowance for loan losses
1.1001-1(a)), the amount of deemed charge-off "is the amount by which the tax basis of the debt exceeds the greater of the fair market value of the debt or the amount of the debt recorded on the taxpayer's books and records reduced as appropriate for a specific allowance for loan losses
" (emphasis added).
(7.) For further guidance, institutions should refer to the July 12, 1999, Joint Interagency Letter to Financial Institutions on the allowance for loan losses
, as well as the July 2, 2001, Interagency Policy Statement on Allowance for Loan and Lease Losses (ALLL) Methodologies and Documentation for Banks and Savings Institutions.
That reaction to the Fed's endorsement of FASB's staff-written implementation paper was fueled by language expressly stating that a creditor may not "simply increase (or not decrease) the allowance for loan losses
in `good' economic times to provide for losses expected to occur in the future." Nonetheless, the FASB paper does leave some "wiggle room" when evaluating smaller loans as a group under Statement no.
Citigroup's allowance for loan losses
was $12.3B at quarter end, or 1.82% of total loans, compared to $12.4B, or 1.85% of total loans, at the end of the prior-year period.