Source: Board of Governors of the Federal Reserve System (US)
Release: H.8 Assets and Liabilities of Commercial Banks in the United States
Allowance for Loan and Lease Losses is a contra asset account. A contra asset account is an item that is entered on the asset side of the balance sheet of a corporation or entity even though the item has a credit or negative balance.
For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.
Board of Governors of the Federal Reserve System (US), LESS: Allowance for Loan and Lease Losses, Foreign-Related Institutions [ALLFRIM027SBOG], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/ALLFRIM027SBOG, March 22, 2023.