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Regulation
08/15/2019

FASB Sheds Light On CECL Delay Decision

Small community banks are poised to receive a delay in the new loan loss standard from the accounting board. The Financial Accounting Standards Board is changing how it sets the effective dates for major accounting standards, including the current expected credit loss model or CECL. They hope the delay, which gives some banks an extra one or two years, provides them with more time to access scarce external resources and learn from the implementation lessons of larger banks. Bank Director spoke with FASB member Susan Cosper ahead of the July 27 meeting discussing the change. She shed some light on…

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WRITTEN BY

Kiah Lau Haslett

Banking & Fintech Editor

Kiah Lau Haslett is the Banking & Fintech Editor for Bank Director. Kiah is responsible for editing web content and works with other members of the editorial team to produce articles featured online and published in the magazine. Her areas of focus include bank accounting policy, operations, strategy, and trends in mergers and acquisitions.