Policy

Partial Government Shutdown Increasingly Likely

If Congress and President Trump do not reach agreement today on a spending bill, the federal government will begin partial shutdown procedures at midnight tonight. Several agencies will close all but essential operations.

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SEC Seeks Comment on Frequency of Financial Reports

The Securities and Exchange Commission yesterday sought comment on the current regime of quarterly financial reporting for public companies, including potential duplication between Forms 10-Q and 8-K, as well as whether the agency should provide companies with greater flexibility in scheduling their periodic reporting.

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House Members Call for CECL Study, Delay

As the Financial Stability Oversight Council meets today to discuss, among other topics, the Financial Accounting Standards Board’s Current Expected Credit Loss model for loan loss accounting, 28 Republican House members urged a delay in CECL’s implementation date and a comprehensive study of its effects on the banking industry and access to credit.

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FSOC Meets Today; CECL on Agenda

The Financial Stability Oversight Council meets today in open and executive sessions. Among other things, the preliminary agenda for the executive session includes the current expected credit loss accounting model.

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