Congress to Vote on COVID-19 Relief Bill Tonight
With Congress poised to cast final votes on a $900 billion bipartisan coronavirus relief package later this evening, ABA staff are currently reviewing the 5,500 page legislative text.
Browsing: CECL
FASB Reviews CECL Implementation
ABA VP Josh Stein offers insights on a recent FASB meeting.
FDIC Floats Changes to Deposit Insurance Rules to Accommodate CECL Transition
The FDIC on Friday proposed changes to the risk-based deposit insurance system that applies to banks with more than $10 billion in assets to address the temporary deposit insurance assessment effects resulting from CECL implementation.
COVID-19: A Positive Disruptor to Expected Credit Loss Models
The current murky picture delivered by traditional data has forced an increased focus on new methods that better capture credit risk.
CECL and COVID: Inconclusive, But Wait for the Auditors
By Mike Gullette Credit goes to the Department of Treasury with their conclusion, documented in…
Treasury Inconclusive on CECL Effects, Calls for Further Study
While noting emerging indicators that credit availability declined and lending standards tightened in early 2020, the Treasury Department yesterday said it is difficult to find a link between these trends and the current expected credit loss framework due to the coronavirus pandemic.
Agencies Finalize Three Rules Issued as Part of Pandemic Response
The federal banking agencies today finalized several rules originally issued as interim final rules during the spring weeks of the emergency coronavirus response.
FDIC: Bank Profits Fall amid Ongoing Pandemic; Community Bank Income Grows
FDIC-insured banks and savings institutions earned $18.8 billion in the second quarter of 2020, a 70% decline from a year prior, the FDIC reported today.
ABA Recommends Focus for Congressionally Mandated CECL Study
As the deadline for an ABA-advocated, congressionally mandated Treasury Department study of the current expected credit loss standard looms, ABA recently wrote to Treasury to provide its view on which aspects of CECL the study must address.
Crapo Presses Regulators to Extend CARES Act Relief Provisions
As reported by Politico this week, Senate Banking Committee Chairman Mike Crapo (R-Idaho) wrote to the heads of the financial regulatory agencies urging them to extend certain CARES Act relief provisions.