FASB issued new accounting guidance that eliminates the available for sale classification for equity securities.
Sageworks offers credit unions a list of dos and don’ts as they anticipate changes to the current credit loss model.
The changes, which alter the classification of marketable equity securities, could mean the end of equity security use in the credit union space.
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.
Final guidance on the FASB's CECL model is expected to be released this year; credit unions should begin to plan for the transition.
Basel Committee guidance for loan loss could mean big changes for U.S. credit unions.
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.