Regulatory Capital Treatment of Accrued Interest Receivables (AIRs)
May 22, 2002
Circular No. 11441

To All Depository Institutions and Others Concerned in the Second Federal Reserve District:

A Supervisory Letter announces the issuing of guidance (pdf - 74kb) by the Federal Reserve Board, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Office of Thrift Supervision regarding the appropriate risk-based capital treatment for banking organizations that securitize credit card receivables and record an on-balance-sheet asset commonly referred to as an Accrued Interest Receivable (AIR).

Questions on the matter may be directed, as this Bank, to Darryll Hendricks, Senior Vice President, Bank Supervision, or Dianne Dobbeck, Staff Director, Policy and Analysis.