FASB Update on Troubled Debt Restructurings

On October 12, FASB issued an Exposure Draft of a proposed Accounting Standards Update to increase transparency in financial reporting about troubled debt restructurings.  The update proposes guidance to assist creditors in determining whether a modification of a receivable’s terms meets the criteria to be considered a troubled debt restructuring for purposes of recording an impairment and for disclosure of troubled debt restructurings. FASB Release.