Minn. R. agency 120, ch. 2675, INVESTMENTS, pt. 2675.1150

Current through Register Vol. 49, No. 25, December 16, 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. agency 120, ch. 2675, INVESTMENTS, pt. 2675.1150

9 SR 1689

Statutory Authority: MS s 46.01