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FASB plans January roundtable to address CECL tension

Tammy Whitehouse | December 20, 2018

Financial Accounting Standards Board Chairman Russ Golden said during a routine weekly board meeting that FASB will schedule a roundtable in January to discuss issues that have surfaced during implementation of Accounting Standards Codification Topic 326, which requires companies to develop a current expected credit losses (CECL) model for reporting signs of stress in loan portfolios. Financial institutions have called on FASB to delay the effective date and further study the economic consequences of the new standard.

Even Congress is making noise over CECL, with a year-end sub-committee hearing in the House Financial Services Committee and more recently a...

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