Credit unions must apply new credit loss rules for fiscal years beginning after Dec. 15, 2019.
The CECL guidance is not cause for panic, and an additional delay in the finalized guidance only underscores that point.
The IASB credit loss standard would be less burdensome on credit unions.
Basel Committee guidance for loan loss could mean big changes for U.S. credit unions.
Final guidance on the FASB's CECL model is expected to be released this year; credit unions should begin to plan for the transition.
Editorial commentary on current issues from CU Times' editorial staff and correspondents.
Get ready to make big changes in how you calculate loan loss allowances.
The Financial Accounting Standards Board is getting an earful from credit unions and trade associations. Even NCUA Chairman Debbie Matz, like others, is concerned about the accounting board’s exposure draft that would require financial institutions to base loan-loss allocations on expected losses, rather than incurred losses. In addition to requiring...
NCUA chair urges standards-setting panel to consider unintended consequences of new ALLL rule.
Deadline is Friday and 62 of 153 comment letters posted so far are from credit unions concerned about proposed ALLL changes.