Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Bank regulators back scaling of CECL model for smaller banks

Tammy Whitehouse | January 18, 2017

Bank regulators apparently are getting peppered with questions about how new accounting requirements for credit losses intersect with various rules and requirements for financial institutions, prompting a year-end Q&A to assure both institutions and examiners are on the same page.

The “frequently asked questions” guidance is focused on Accounting Standards Update No. 2016-13, issued by the Financial Accounting Standards Board in mid-2016 to require companies to follow a new, more forward-looking formula for estimating allowances for credit losses. Four agencies, including the Federal Reserve and the Federal Deposit Insurance Corporation, jointly issued the FAQs.

The FAQs...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.