Chapter 9: Purchased financial assets with credit deterioration. Publication date: 31 May 2022.ASC 326's changes the accounting for credit losses. Let's take a look at the impact on purchased financial assets with credit deterioration. ASC 326 uses the term "purchased financial assets with credit deterioration" and the definition of PCD assets is broader than the definition of PCI assets. Some recent, tentative FASB decisions on the accounting treatment of purchased financial assets will impact acquisitive institutions when finalized. More information on capital assets can be found in footnote 4 in the Footnotes to the Financial Statements.