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.

In a comment letter to the Financial Accounting Standards Board today, ABA offered support for a proposal that would allow companies to capitalize certain implementation costs relating to new systems that operate on cloud technology.

With the New York Federal Reserve beginning to publish the Secured Overnight Financing Rate -- or SOFR -- next week, the American Bankers Association today wrote to the Financial Accounting Standards Board in support of including the overnight index swap rate based on SOFR as a benchmark interest rate for hedge accounting purposes, as an alternative to U.S. dollar Libor.

All 52 state bankers associations wrote to the Financial Accounting Standards Board on Friday in support of a proposal to adjust regulatory capital balances that were unexpectedly affected by the new tax reform law.

In a comment letter to the Financial Accounting Standards Board today, ABA offered its full support for a proposal to adjust regulatory capital balances that were unexpectedly affected by the new tax reform law.

The Financial Accounting Standards Board has issued a highly anticipated draft proposal for adjusting regulatory capital balances that were unexpectedly affected by the new tax reform law.

The Financial Accounting Standards Board has issued a staff Q&A signaling that it would not object to private companies and not-for-profit organizations applying a recent Securities and Exchange Commission staff accounting bulletin that addresses several key financial reporting issues that resulted from the tax reform bill.

The Financial Accounting Standards Board has announced that it will issue a proposal in the coming days to adjust regulatory capital balances that were unexpectedly affected by the new tax reform law.

With the tax reform law now in effect, ABA today wrote to the heads of the federal banking agencies and the Securities and Exchange Commission urging them to carefully consider the short- and long-term effects tax reform will have on banks’ net income, regulatory capital and financial reporting.

Eighty-three percent of bankers say that implementing FASB’s Current Expected Credit Loss standard will require substantial changes to policies, procedures or technology systems, according to a survey conducted by the American Institute of CPAs.