Accounting & Auditing

The Financial Accounting Standards Board has made needed improvements to its final accounting standards update on credit losses to address community bank concerns, though additional changes are needed. ICBA has worked for years with FASB to ensure the Current Expected Credit Loss standard heeds the calls of community bankers for a more workable solution. Learn more about ICBA's ongoing advocacy efforts with the following interactive timeline.


Additional Resources from FASB and Regulators

ICBA Featured Resources

Articles & Press Releases

Title Publication Date
Agencies issue policy statement on applying CECL NewsWatch Today Article 05/11/20
Agencies make technical corrections to CECL rule NewsWatch Today Article 04/23/20
Regulators clarify optional CECL delay NewsWatch Today Article 04/01/20
Agencies announce optional CECL delay NewsWatch Today Article 03/30/20
ICBA Letter to FASB Regarding Community Bank Relief from COVID-19 Letters to Regulators 03/23/20
Agencies finalize CECL policy statement NewsWatch Today Article 03/04/20
ICBA Tells Agencies CECL Concerns Remain NewsWatch Today Article 12/17/19
Agencies Propose Policy Statement on Credit Losses NewsWatch Today Article 10/17/19
FASB Delays CECL for Most Institutions NewsWatch Today Article 10/17/19
ICBA Supports CECL Implementation Delay NewsWatch Today Article 09/17/19
ICBA Advocates Asset Threshold Adjustments to FDICIA Requirements NewsWatch Today Article 09/17/19
Accounting Guidance Targets CECL NewsWatch Today Article 09/09/19
FASB Issues Guidance to Ease LIBOR Transition NewsWatch Today Article 09/09/19
FASB Proposes Accounting Standard Implementation Delay NewsWatch Today Article 08/15/19
Senate Panel Pressures Agencies on Community Bank Relief NewsWatch Today Article 07/31/19
ICBA Supports FASB Action to Delay Accounting Standard NewsWatch Today Article 07/18/19
ICBA Supports Delay in New Accounting Standard Press Release, News 07/17/19
ICBA Backs House Version of CECL Stop-and-Study Bill NewsWatch Today Article 06/12/19
House Version of CECL Stop-and-Study Bill Introduced NewsWatch Today Article 06/11/19
ICBA Supports CECL Stop-and-Study Bill NewsWatch Today Article 06/05/19

Letters to Congress

Title Recipient Date
Rep. Vicente Gonzalez
06/11/2019
Sen. Thom Tillis
06/04/2019

Letters to Regulators

Title Recipient Date
OCC
05/14/2020
Financial Accounting Standards Board
03/23/2020
FDIC, Fed, OCC
12/16/2019
FASB
09/16/2019
FDIC, Federal Reserve, OCC
07/13/2018
FASB
02/05/2018
FASB, FDIC, Fed, OCC
01/09/2018

Testimonies

Title Committee Presenter Date

Summaries

Title Content Type Date