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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