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 ...
Tag: CECL
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 ...
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 ...
Fed Proposes Revisions to Capital Assessments, Stress Testing Reports
The Federal Reserve has announced temporary revisions to its Form FR Y-14A/Q/M, the Capital Assessments and Stress Testing Reports.
Bipartisan Group of Senators Call for FSOC Study on CECL
A bipartisan group of senators yesterday urged Treasury Secretary Steven Mnuchin to direct the Financial Stability Oversight Council to conduct ...
Agencies Grapple with Particulars of CECL Delay
Three years after it was issued—and amid numerous congressional hearings, a mandate for the Treasury Department to study its economic ...
First Quarter COVID-19 Credit Loss Estimates: Where No Man Has Gone Before
Whether institutions are using CECL or incurred loss methodology, estimating credit losses in today’s pandemic-stressed economic environment is challenging to ...
ABA Warns of Unintended Consequences of Proposed CECL Capital Phase-In Delay
In a comment letter to the financial regulatory agencies today, ABA warned of potential unintended consequences that could arise as ...
Agencies Issue Policy Statement on Allowances for Credit Losses
The financial regulatory agencies today issued a final interagency policy statement on determining allowances for credit losses under the current ...
Rep. Kustoff Flags Technical Complication with SEC Interpretation of CECL Delay
In a letter to SEC Chairman Jay Clayton this week, Rep. David Kustoff (R-Tenn.) urged the agency to rethink its ...
