ABA to FASB: Subject CECL to Strong Cost-Benefit Test, Delay Implementation

Summarizing the complexity within key aspects of the Financial Accounting Standards Board’s Current Expected Credit Loss model for loan impairment accounting, ABA today called on FASB to perform a public and transparent cost-benefit analysis before the final CECL standard is issued and to consider “realistic” implementation approaches banks will use rather than minimum specific requirements.

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ABA Resources for FASB CECL Roundtable Now Available

In advance of the community bank roundtable meeting that the Financial Accounting Standards Board is hosting on Thursday to address its Current Expected Credit Loss standard for loan loss accounting, ABA has published two documents to assist bankers in understanding the background and technical issues to be addressed.

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