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.
International accounting board closes comment period on its proposed credit loss changes.
Council reps at International Accounting Standards Board panel discussion on Monday.
The current conversation focused on “expected credit loss” provides a great opportunity for credit unions to begin evaluating their loan loss reserve methodologies.
'Expected credit loss' measurement would replace current model that requires loss to occur before recognized.