In a comment letter to the Financial Accounting Standards Board today, the American Bankers Association offered support for a proposal that would allow non-public business entities to implement CECL on Jan. 1, 2022.

The American Bankers Association today announced its endorsement of two software solutions to help banks meet the upcoming deadline for Current Expected Credit Loss implementation. Sageworks ALLL and MST Loan Loss Analyzer are software solutions that provide modeling and data management for CECL accounting. CECL represents the biggest accounting change in banking history. The new standard requires banks to record ...

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. 

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.

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.

Implementation deadlines may seem distant but they’re looming now.

Responding to a concern initially raised by the American Bankers Association in a discussion paper, the Financial Accounting Standards board agreed today to propose changing the effective date of the Current Expected Credit Loss accounting standard for “non-public business entities” to fiscal years beginning after Dec. 15, 2021.

As banks prepare to implement the Current Expected Credit Loss standard, ABA on Friday called on financial regulators to provide for a complete and ongoing adjustment of common equity tier 1 capital for the effects of CECL until a new capital regime can be finalized.

A new joint proposal from the Federal Reserve, FDIC and the OCC will give banks the option to phase in the regulatory capital effects of the Current Expected Credit Loss standard, the Federal Reserve announced today.

The Basel Committee today issued a proposed technical amendment to bank disclosure requirements in light of new expected credit loss accounting models being implemented worldwide.