XML 35 R10.htm IDEA: XBRL DOCUMENT v3.25.3
RECENT ACCOUNTING PRONOUNCEMENTS
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
RECENT ACCOUNTING PRONOUNCEMENTS RECENT ACCOUNTING PRONOUNCEMENTS
Standard
Description
Effective date
Effect on the financial statements or other significant matters
Standards not yet adopted by the Bank as of September 30, 2025
ASU 2024-03,
Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40)
This accounting standards update (“ASU”) requires additional disclosures of certain costs and expenses in both interim and annual reporting periods, including:
•Amounts of employee compensation, depreciation, and intangible asset amortization included in certain expense lines presented on the face of the income statement within continuing operations.
•A qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively.
•The Bank's definition and amount of selling costs.
Annual periods beginning January 1, 2027; Interim periods beginning January 1, 2028The overall effect of this standard is not expected to have a material impact on our consolidated financial statements.
ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software
(Subtopic 350-40)
This ASU modernizes the accounting treatment for internal-use software to better reflect current development practices, including agile and iterative approaches. Key provisions include:
•Elimination of Prescriptive Project Stages: The guidance no longer requires classification of costs by development phase, thereby removing rigid stage-based criteria.
•Capitalization Criteria: Capitalization of eligible software development costs commences once management has both authorized and committed to funding the project, and it is probable that the project will be completed. This assessment must consider any significant development uncertainties, such as the inclusion of novel or unproven functionalities and whether performance requirements are subject to substantial revision.
•Updated Disclosure Requirements: Disclosure obligations are now aligned with those outlined in Subtopic 360-10, Property, Plant, and Equipment. Requirements under Subtopic 350-30 are no longer applicable.
Annual and interim periods beginning after December 15, 2027.
The overall effect of this standard is not expected to have a material impact on our consolidated financial statements.
Standards adopted by the Bank during 2025
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures
This ASU requires additional detailed information to improve the usefulness of income tax disclosures. This includes providing detailed annual disclosures on rate reconciliation and income taxes paid for specific categories and when certain quantitative thresholds are met.Annual periods beginning January 1, 2025The overall effect of this standard is not expected to have a material impact on our consolidated financial statements.