Tax/Accounting

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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Nichols: More Clarity Needed on CECL Standard

In a letter to the Financial Accounting Standards Board today, ABA President and CEO Rob Nichols called for more clarity on the proposed Current Expected Credit Loss accounting standard, highlighting several key concerns that must be addressed before the standard can take effect.

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FASB Announces CECL Roundtable

In response to ongoing feedback from bankers and ABA staff related to FASB’s Current Expected Credit Loss impairment accounting standard, FASB Chairman Russ Golden informed ABA’s Rob Nichols that the organization will hold a public roundtable during the first quarter of 2016 that will include community bankers, regulators and auditors to address misconceptions and other concerns about the CECL model.

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Basel Issues Regulatory Expectations on Credit Loss Accounting

The Basel Committee on Banking Supervision today issued its guidance on credit risk and expected credit loss accounting, which is intended to set common worldwide regulatory expectations for loan loss accounting, including the Financial Accounting Standards Board’s current expected credit loss model.

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