Tax/Accounting

FASB Advisory Group Split on Loan Loss Accounting

The Financial Accounting Standards Board’s own Investor Advisory Committee last week became the latest group to express mixed opinions on FASB’s current expected credit loss proposal, which would require expected credit losses over the life of a loan to be recorded at the time of origination. The 10-member IAC includes a member from the Federal Reserve Bank of New York ...

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Fed Declines Basel III Fix for Sub S Banks

Federal Reserve Chairman Janet Yellen yesterday responded to a letter several House members sent last fall urging regulators to resolve a problem for Subchapter S banks posed by Basel III’s capital conservation buffer. Yellen declined to pursue any policy change, stating that the Fed “continues to believe that the capital conservation buffer should be applied equally to all banking organizations.”

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