What is FASB91?

FAS 91 is Statement of Financial Accounting Standards No. 91 as promulgated by the Financial Accounting Standards Board (FASB). You can find FAS 91 at www.fasb.org . As far as I know, all financial institutions are required to follow it to be considered in compliance with Generally Accepted Accounting Practices (GAAP).

Here's the information from the summary of the standard:

FAS 91 Summary
This Statement establishes the accounting for nonrefundable fees and costs associated with lending, committing to lend, or purchasing a loan or group of loans. This project was undertaken in response to an AICPA Issues Paper that indicated a diversity in practice in the accounting for nonrefundable fees and costs associated with lending activities.The provisions of this Statement apply to all types of loans (including debt securities) as well as to all types of lenders (including banks, thrift institutions, insurance companies, mortgage bankers, and other financial and nonfinancial institutions). This Statement also specifies the accounting for fees and initial direct costs associated with leasing.

The Statement specifies that: