On Jan. 30, RUS CB proposed updates to non-credit reporting rules.
RUS CB proposed ord on amendments to reg 726-P on the procedure for reflecting income, expenses and other comprehensive income in the accounting accounts of non-credit financial institutions.
Consultation documents are only available on RUS CB website until comment deadline.
The ord updates regulation 726-P by replacing references to reg 713-P On the Chart of Accounts for Non-credit Financial Organizations and the Procedure for Its Application.
With regulation 803-P On the Chart of Accounts for Non-credit Financial Organizations, Credit Bureaus, Credit Rating Agencies, and the Procedure for Its Application.
Effectiveness
The ord is expected to enter into force on Jan. 1, 2025 and comments and feedback are expected by Feb. 12, 2024.
Jun. 2024 Ordinance Issued
On Jun. 25, 2024, RUS CB published ord 6731-U amendments to reg 726-P on the procedure for reflecting income, expenses and other comprehensive income in the accounting accounts of non-credit financial institutions in force from Jan. 1, 2025.
