Daily News: February 11, 2013

CFO: FASB Wants Banks to Forecast Loan Losses


In an article that appeared in CFO magazine, the author notes that the latest exposure draft on accounting for credit losses from FASB could bring sweeping changes to the way that banks, financial institutions, and other public and private organizations account for credit losses on their balance sheets.

The CFO article noted that on a press call in December, FASB chairman Leslie Seidman estimated that banks and other financial institutions would see their losses increase by about 50% under the new rule, even if they adopt only part of the proposal.

To read the CFO article, click here.