Agencies finalize CECL policy statement

Mar 04, 2020

Federal regulators issued a final interagency policy statement on the Financial Accounting Standards Board’s Current Expected Credit Loss standard.

The statement describes the measurement of expected credit losses using the CECL methodology and updates concepts and practices in existing supervisory guidance.

ICBA last fall expressed support for FASB’s proposal to grant additional time for most community banks to implement CECL standards.

ICBA has worked with FASB officials since 2011 to achieve several substantive improvements to CE