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FASB considers how to answer CECL proposal

Tammy Whitehouse | November 8, 2018

The Financial Accounting Standards Board is reviewing a request from a group of mid-sized financial institutions to revise the new credit losses rules in a way the board has apparently already considered and dismissed.

Nearly two dozen banks and the American Financial Services Association signed a 26-page document submitted to the FASB asking the board to consider a change to Accounting Standards Codification Topic 326 to retain the pattern of loss recognition but alter the effect on earnings. “We will carefully review the proposal submitted by the banks and determine if further action is warranted,” a FASB...

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