Investors are frustrated they are not getting more information from leading banks over how financial statements will be affected by the adoption of the new CECL accounting rules on credit losses.
That’s what Hal Schroeder, a member of the Financial Accounting Standards Board, said to a conference of bankers at the American Institute of Certified Public Accountants this week. FASB is hearing from investors who say they expect more numerical disclosure under Staff Accounting Bulletin No. 74 regarding how leading banks will be affected by the new current expected credit losses approach to reporting.
