Tag Archives: loan loss accounting

FASB Proposes Technical Corrections to CECL

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.

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FASB to Extend CECL Effective Date for Private Banks

Responding to a concern initially raised by the American Bankers Association in a discussion paper, the Financial Accounting Standards board agreed today to propose changing the effective date of the Current Expected Credit Loss accounting standard for “non-public business entities” to fiscal years beginning after Dec. 15, 2021.

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ABA, Bankers Meet with Regulators on CECL Impacts

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.

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House Lawmakers Seek Delay, Closer Examination of CECL

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.

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