Federal Regulatory Agencies Issue CECL FAQs
The federal regulatory agencies today published an FAQ document on the Financial Accounting Standards Board's Current Expected Credit Loss standard...
Tax and Accounting
ABA Comments on IRS Rule Limiting Valuation Discounts
ABA today commented on a proposal by the IRS that would limit valuation discounts of family interests in certain family...
IRS to Issue Guidance on Modified Loan Interest Ambiguity
The IRS has informed ABA that it will conduct a formal process to issue guidance on whether and how to...
ABA Wins Delay on Proposed IRS Security Protocol
Following advocacy efforts by ABA and other financial and housing trade associations, the IRS today announced that it would postpone...
Treasury Issues Controversial ‘Interest Stripping’ Final Rule
In response to comments from ABA and other groups, banks yesterday scored a win when the Treasury Department issued a...
Basel Proposes Interim Retention Treatment of Loss Provisions
With new expected credit loss approaches coming on line soon, the Basel Committee on Banking Supervision today issued a document...
Bankers Anticipate ‘Substantial’ Changes As a Result of CECL
Eighty-three percent of bankers say that implementing FASB’s Current Expected Credit Loss standard will require substantial changes to policies, procedures...
BAFT Publishes Guidance on FATCA Compliance
BAFT -- ABA’s global transaction banking subsidiary -- today released guidance on the Foreign Account Tax Compliance Act to help...
FASB Issues Proposal to Improve Hedge Accounting
The Financial Accounting Standards Board issued the final proposal in its three-pronged effort to address bank accounting that started in...
CECL: What You Need to Know Now
CECL represents not just a change to bank accounting but to how all banks manage their businesses.
