ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Compliance and Risk

Pending CECL Delay Should Not Put Off Preparations, Regulators Say

September 11, 2019
Reading Time: 1 min read

With a pending proposal by the Financial Accounting Standards Board to delay the Current Expected Credit Loss standard’s implementation deadline to 2023 for certain institutions, top accounting officials at federal agencies warned banks not to “rest on their laurels” when it comes to implementing CECL. Rather, banks should use that additional time for forecasting, parallel runs, establishing or modifying internal controls and “generally integrating the results of CECL into business processes,” FDIC Chief Accountant Robert Storch said yesterday at an American Institute of CPAs conference.

While institutions have made progress toward implementing the CECL standard, Storch noted that about a third of smaller community institutions have yet to develop an implementation plan, he noted. Among the larger publicly traded banks that must comply by 2020, OCC Chief Accountant Sydney Menefee noted that some are “behind their own schedules” in terms of model development and validation, but added that this is not “expected to impact [their] readiness” by the 2020 effective date. The need for more time for banks of all sizes is one of many factors driving the American Bankers Association’s continued advocacy for a delay in CECL implementation.

ABA has for years raised numerous concerns about the procyclical nature of the CECL standard and its potential to negatively affect credit availability in an economic downturn. The association has called on FASB to extend its proposed delay to all banks. The association continues to advocate for bipartisan legislation introduced in both the House and Senate that would halt the implementation of CECL until a quantitative impact study can be conducted.

ADVERTISEMENT
Tags: CECLLoan loss accounting
ShareTweetPin

Related Posts

ABA donates to Texas flood relief efforts, urges bankers to contribute

ABA donates to Texas flood relief efforts, urges bankers to contribute

Community Banking
July 10, 2025

ABA will donate $10,000 to Texas Bankers Foundation to assist with immediate disaster response and recovery following the recent catastrophic flooding in Central Texas.

Mortgage rates fall

Mortgage rates rise

Economy
July 10, 2025

The rate for a 30-year fixed-rate mortgage was 6.72% this week. The rate for a 15-year fixed-rate mortgage was 5.86%.

Budget bill narrowly passes Senate, moves back to House

Breaking down the bank-related provisions in the big budget bill

ABA Banking Journal Podcast
July 10, 2025

Following the enactment of the One Big Beautiful Bill Act, hear from ABA experts on how key ABA-supported provisions on tax policy, rural real estate and health savings accounts in the budget reconciliation law will affect banks.

Fed releases agenda for upcoming conference on large bank capital requirements

Fed seeks public input on large bank rating system revision

Compliance and Risk
July 10, 2025

The Federal Reserve requested comment on a proposal to revise its supervisory rating framework for large bank holding companies to address the "well managed" status of the firms.

Senate Banking Committee advances OCC, SEC nominations

Senate confirms Gould as comptroller of the currency

Newsbytes
July 10, 2025

The Senate voted to confirm Jonathan Gould as comptroller of the currency. He succeeds Rodney Hood, who is acting comptroller.

FinCEN, IRS-CI launch series to help banks combat fentanyl trafficking

FinCEN extends compliance dates for fentanyl orders

Compliance and Risk
July 9, 2025

FinCEN has extended by more than a month the effective dates for orders involving three Mexico-based financial institutions with alleged ties to fentanyl trafficking, according to an agency statement.

NEWSBYTES

ABA donates to Texas flood relief efforts, urges bankers to contribute

July 10, 2025

Mortgage rates rise

July 10, 2025

Fed seeks public input on large bank rating system revision

July 10, 2025

SPONSORED CONTENT

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

July 1, 2025
AI Compliance and Regulation: What Financial Institutions Need to Know

Unlocking Deposit Growth: How Financial Institutions Can Activate Data for Precision Cross-Sell

June 1, 2025
Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025

PODCASTS

Breaking down the bank-related provisions in the big budget bill

July 10, 2025

Podcast: Inside ABA’s new Treasury Check Verification System API

June 25, 2025

Podcast: Staying close to clients amid tariff-driven volatility

June 18, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.