The OCC released the 2026 edition of the Bank Accounting Advisory Series (BAAS), which clarifies accounting standards and regulatory reporting across banks. This update reflects interpretations of GAAP and rescinds the 2025 version.
What changed
Introduction of updated accounting guidance for banks, promoting consistent application of standards.
Compliance perspective
Banks should review and implement the updated guidance to ensure adherence to new accounting standards.
Key date
Effective date: August 14, 2026.
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