Minn. R. 2675.1150

Current through Register Vol. 48, No. 51, June 17, 2024

Part 2675.1150 - PURCHASE OF ASSET AT A PREMIUM OR DISCOUNT

When assets are purchased at a premium or discount, a bank:

A. shall charge off the premium when the asset is placed on the books; or, provide for the regular amortization of the premium pursuant to generally accepted accounting principles; and

B. may provide for the regular accretion of the discount pursuant to generally accepted accounting principles.

Minn. R. 2675.1150

9 SR 1689

Statutory Authority: MS s 46.01