Browsing: Tax/Accounting

Newsbytes

The American Bankers Association has issued a new discussion paper on the Current Expected Credit Loss standard aimed at educating bank investors, board members and auditors on what to look for under the new standard and the challenges bankers will have in addressing common questions from these stakeholders. 

Newsbytes

The Financial Accounting Standards Board today issued an exposure draft of an accounting standards update that would make technical corrections to the Current Expected Credit Loss accounting standard.

Mortgage

As part of the Federal Housing Finance Agency’s “single security initiative” to standardize the terms for mortgage pass-through certificates issued by Fannie Mae and Freddie Mac, holders of existing related GSE securities will have an opportunity to exchange them for the new standard security.

Newsbytes

The American Institute of Certified Public Accountants has issued two draft papers that address – in a generally positive way — issues related to the implementation of the Current Expected Credit Loss standard, which will require banks to record credit losses at origination based on the life-of-loan loss expectations.

Banks and the Economy

In an op-ed published on the Inside Indiana Business website yesterday, Indiana Bankers Association President and CEO Amber Van Til pushed back against several erroneous assertions often made by the credit union industry about the need for the credit union tax exemption, including the claim that credit unions are mostly small, humble institutions serving customers of limited means.

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