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.
CEOs and board members may find the CECL backgrounder of interest. This document briefly touches on the relevant issues of the roundtable, dives into the history and background of the CECL project, addresses frequently asked questions related to CECL and provides a roadmap on what will happen after the meeting. Those interested in the technical issues expected to be discussed during the meeting can read ABA’s updated discussion paper.
The meeting will occur from 12:30-3:30 pm EST on Thursday, Feb. 4. FASB will broadcast the audio portion of the meeting live, which can be accessed at fasb.org. For more information, contact ABA’s Mike Gullette.