The federal banking agencies on Friday issued guidance on implementing the Financial Accounting Standards Board’s new loan loss accounting standard, which uses a current expected credit loss, or CECL, model.
The Financial Accounting Standards Board today issued its new loan loss accounting framework, also known as the current expected credit loss model. Bank regulators have described CECL as the “biggest change to bank accounting ever.”
Rep. Randy Neugebauer (R-Texas) yesterday introduced H.R. 5465, a bill that would repeal Dodd-Frank’s Durbin Amendment, which institutes a cap on debit interchange fees charged by institutions with $10 billion or more in assets.
The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather. It'll also consider regulatory relief from certain filing and publishing requirements.