Accounting & Auditing

The Financial Accounting Standards Board has made major improvements to its final accounting standards update on credit losses to address community bank concerns. While not perfect, the final Current Expected Credit Loss standard shows FASB has heeded the calls of community bankers for a more workable solution that will avoid disastrous consequences for local communities.

Key Resources from FASB and Regulators

ICBA Featured Resources

Articles & Press Releases

Title Publication Date
Agencies Update CECL FAQs as FASB Votes Down Alternative Plan NewsWatch Today Article 04/04/19
ICBA Continues CECL Push at FASB NewsWatch Today Article 01/29/19
New Opportunities for CECL Improvements: Blog NewsWatch Today Article 01/23/19
FASB: ‘Weighted-Average’ Method Works for CECL NewsWatch Today Article 01/14/19
FDIC Approves CECL Transition Period NewsWatch Today Article 12/19/18
ICBA Statement on Agency Accounting-Standards Webinar Press Release 02/27/18
State Supervisors Issue CECL Readiness Tool NewsWatch Today Article 02/20/18
FAQs Emphasize Scalability of New Accounting Standard NewsWatch Today Article 09/07/17
ICBA: FASB Makes Major Improvements to Accounting Standard Press Release 06/16/16
ICBA: FASB Continues Progress with Revised Accounting Disclosures Press Release 04/27/16
ICBA: CECL Reforms Show FASB Listening to Community Banks Press Release 04/22/16

Letters to Congress

Title Recipient Date

Letters to Regulators

Title Recipient Date
FDIC, Federal Reserve, OCC
07/13/2018
FASB
02/05/2018
FASB, FDIC, Fed, OCC
01/09/2018
SEC
05/08/2017
FASB
04/22/2016
FASB
03/17/2016
FASB and Its Private Company Council (PCC)
01/29/2016
FASB
01/07/2016
FASB
12/15/2015

Testimonies

Title Committee Presenter Date

Summaries

Title Content Type Date

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