Darrin Benhart Named Co-Chair of International Task Force on Prudential Treatment of Assets

WASHINGTON—The Office of the Comptroller of the Currency today announced that Deputy Comptroller for Credit and Market Risk Darrin Benhart will co-chair the Task Force on Prudential Treatment of Assets of the Basel Committee on Bank Supervision.

The task force will study the use by banks and supervisors of such terms as "non-performing loan," "loss," "write-off," and "forbearance," and possibly develop common international definitions as appropriate. During asset classification, the recognition of loss and write-off depends on identifying those assets and portions of assets that should be considered uncollectable or of insignificant value. A better understanding of these factors across jurisdictions would benefit risk disclosures and financial reporting. Mr. Benhart's co-chair on the task force is Mr. Piers Haben, Director of the Oversight Department of the European Banking Authority.

"I am proud that international organizations turn to seasoned supervisors of the Office of the Comptroller of the Currency for their expertise and leadership," said Comptroller of the Currency Thomas J. Curry. "Darrin's deep experience and knowledge will serve the agency and the Basel Task Force well in this important role."

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• Deputy Comptroller for Credit and Market Risk Darrin Benhart