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The FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities in January 2016 and ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments in June 2016. For information on these ASUs see PwC's Loans and investments guide. This section covers the impairment of loans, troubled debt restructurings, the purchase of loans and interest income recognition for impaired loans. The guidance in this section remains applicable until an entity adopts the new guidance in ASU 2016-01 and ASU 2016-13.
Refer to FSP for disclosure of loans.

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