In a year that saw passage of a major regulatory reform law, U.S. financial institutions’ anxiety levels over compliance obligations eased significantly, according to a survey released this morning by Wolters Kluwer.

The projected effects of the Financial Accounting Standards Board’s Current Expected Credit Loss model for loan loss accounting are significant enough that FASB should delay CECL’s effective date and perform a quantitative impact study of the model, ABA said today.

The Financial Accounting Standards Board issued an accounting standards update today to allow non-public business entities to implement CECL on Jan. 1, 2022, instead of Dec. 31, 2021, as originally required.

The American Institute of Certified Public Accountants’ financial reporting executive committee today issued a working draft of accounting issues related to the implementation of the Current Expected Credit Loss standard.

In a letter to Treasury Secretary Steven Mnuchin yesterday, ABA and 52 state bankers associations called for a quantitative impact study to assess the full effects of the Financial Accounting Standards Board’s Current Expected Credit Loss standard on bank capital.

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.