As advocated by the American Bankers Association, the Financial Accounting Standards Board today announced that it would end troubled debt restructuring accounting for companies that have already adopted the current expected credit loss accounting standard.
The American Bankers Association this week joined a coalition of trade groups in a letter to Treasury Secretary Janet Yellen expressing strong concerns on the potential negative effects of the Organization for Economic Cooperation and Development’s Pillar 2 minimum tax rules.
The Biden administration yesterday released its “Green Book,” a document that contains proposed tax changes that the administration will likely pursue during the coming year.
The Securities and Exchange Commission today proposed a much-anticipated set of requirements for public companies to disclose information about climate risks affecting them, their greenhouse gas footprints and any emissions-reduction plans they may have adopted.
Time is running out for the Federal Reserve to make a simple but critical fix to ensure infusions of funds reach disadvantaged communities.
The American Bankers Association joined with a broad-based group of trade associations in a letter expressing strong concerns on final foreign tax credit regulations that were issued by the U.S. Treasury Department and the Internal Revenue Service in January.
Earlier this week, the Financial Accounting Standards Board considered and rejected further deferral of the current expected credit loss accounting standard for those banks that have yet to adopt it.
The outgoing FDIC chairman discusses bank innovation, FDITech, post-COVID exams and the agency’s COVID response in part one of this interview.
Credit loss estimation is complicated, and CECL’s lifetime loss objective makes it even more so. While a robust quantitative impact study is still needed, this study suggests the countercyclical regulatory transition mechanism should be made permanent.
As the start of a presidential term, 2021 was an active year for considering potential changes in tax law. But what does that mean for 2022?