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Bankers expect big accounting change under CECL model

Tammy Whitehouse | October 11, 2016

Bankers are expecting a new accounting rule on how to reflect credit losses in financial statements to produce big accounting process changes -- some saying the biggest changes ever.

At a recent conference of the American Bankers Association, 63 percent of more than 100 banking executives who participated in an on-site poll said they expect “substantial changes” to policies, procedures or technology to comply with Accounting Standards Update No. 2016-13. That’s the financial-crisis-inspired standard adopted by the Financial Accounting Standards Board that require companies to measure loan losses or other credit-related losses...

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