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Is IFRS 9 shaking up U.S. activity to adopt CECL?

Tammy Whitehouse | February 19, 2018

Accounting activity at publicly held financial institutions apparently is picking up in the new year to prepare for new requirements for the recognition of loan losses.

While the U.S. rules don’t take effect for a few year more, the implementation of similar international rules has acted as a wake-up call among U.S.-based entities in the financial services sector, says James Gellert, CEO of ratings firm RapidRatings. “We’re seeing a tremendous amount of activity in banks, from the largest to the smallest ones, that we weren’t seeing three or four months ago,” he says. 

Under U.S. GAAP, all public companies will be required beginning in 2020 to reflect losses on debt-related instruments using a more...

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