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. 

Community banks may need to consider implementing the Financial Accounting Standards Board’s Current Expected Credit Loss accounting standard earlier than initially expected, ABA concluded in several new discussion papers.

Representatives from 15 ABA member banks of all sizes met with the Federal Reserve, OCC, and FDIC yesterday to discuss concerns related to the impact of the Financial Accounting Standards Board’s Current Expected Credit Loss accounting standard.

The Federal Reserve, FDIC and OCC are finalizing a halt in the phase-in of certain Basel III capital rules for banks not using the Basel advanced approaches.

A group of House lawmakers yesterday wrote to the heads of the Securities and Exchange Commission and the Financial Accounting Standards board urging them to more closely examine the effects of FASB’s Current Expected Credit Loss Standard on credit availability and calling for a delay to CECL’s effective date until such a study can be carried out.

As banks continue preparing to implement the Current Expected Credit Loss model for loan loss accounting, the financial agencies have issued 14 new answers to frequently asked questions.

Dispatches from the CECL implementation journey.

With changes to bank accounting on the horizon, including the Financial Accounting Standards Board’s Current Expected Credit Loss accounting standard and upcoming requirements to disclose bank loans at their so-called “exit price,” ABA noted that many auditing firms will need to employ experts and pricing specialists and that banks will need to greatly expand the documentation supporting their estimates.