Fed: Second CECL tool for community banks to launch June 16
To help community banks successfully implement the current expected credit loss accounting standard, the Federal Reserve next week will launch a second tool, the Expected Losses Estimator.
Browsing: CECL
FASB Rejects Further Deferral of CECL
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.
Beyond the Headlines on CECL’s Early Results
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.
FASB Proposes Changes to TDR Accounting, Vintage Disclosures
The Financial Accounting Standards Board today proposed to eliminate its accounting guidance for troubled debt restructurings, or TDRs, while enhancing certain loan disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty.
PCAOB: CECL Deficiencies Suggest Tougher Audits to be Expected
In a recent report, the PCAOB noted ongoing deficiencies in the auditing of loan losses and an increase over 2019 in deficiencies, specifically on the related internal controls auditing.
Fed’s SCALE Method for CECL: Haze Lifted, Questions Remain
The Federal Reserve introduced its CECL Scalable CECL Allowance Estimator, or SCALE, method and tool during an “Ask the Fed” webinar this summer.
FASB to Reconsider TDR, Purchased Loan Accounting Under CECL
The Financial Accounting Standards Board today voted to add two projects to its technical agenda based on feedback it received through its CECL project implementation review process.
Fed: CECL Tool for Community Banks to Launch July 15
The Federal Reserve today said it plans to launch a new tool, the Scaled CECL Allowance for Losses Estimator, or SCALE, to help community banks implement the current expected credit loss standard.
CECL’s First Wave Offers Insights for Smaller Banks
Many banks have until January 1, 2023 before they must implement the current expected credit loss standard, or CECL. But it’s not too soon to start gleaning lessons from larger institutions that are already utilizing the new standard.
Eliminating TDR Accounting: Finally a Carrot for Adopting CECL?
By Josh Stein ABA’s position that troubled debt restructurings are outdated and unnecessary is gaining…