ABA supports FASB action to aid Libor transition for derivatives markets
ABA this week wrote to the Financial Accounting Standards Board in support of a deferral of the sunset date for...
Tax and Accounting
ABA recommends several priority issues in need of IRS guidance
ABA last week submitted recommendations to the Internal Revenue Service on tax issues that are in need of interpretive guidance...
ABA, SIFMA ask SEC to delay effective date on crypto-asset bulletin
Amid the growing ownership of digital assets like cryptocurrencies, the American Bankers Association and the Securities Industry and Financial Markets...
Podcast: Understanding the SEC’s climate risk disclosure proposal
Public comments for the Securities and Exchange Commission's sweeping climate risk disclosure proposal are due on June 17, with major...
IRS updates contribution limits for HSAs
The Internal Revenue Service today released updated contribution limits—adjusted for inflation—for health savings accounts for 2023.
Audit committee expectations intensify as assets hit $1 billion
As banks approach two key asset thresholds—$500 million and especially $1 billion — they must begin preparing for new risks...
FASB to End Troubled Debt Restructuring Accounting for CECL Adopters
As advocated by the American Bankers Association, the Financial Accounting Standards Board today announced that it would end troubled debt...
ABA, Trade Groups Express Concerns on OECD ‘Pillar 2’ Minimum Tax Proposal
The American Bankers Association this week joined a coalition of trade groups in a letter to Treasury Secretary Janet Yellen...
Biden Administration’s ‘Green Book’ Details Tax Proposals
The Biden administration yesterday released its “Green Book,” a document that contains proposed tax changes that the administration will likely...
SEC Proposes First-Ever Climate Risk Disclosures for Public Companies
The Securities and Exchange Commission today proposed a much-anticipated set of requirements for public companies to disclose information about climate...
