The Fed, FDIC, NCUA, OCC, CFPB) and state banking regulators issued an interagency statement for financial institutions working with borrowers affected by the coronavirus. FASB concurs with the approach.
According to Moody’s, FASB’s much-anticipated new lease accounting standard requiring the recognition of operating leases on the balance sheet will increase reported debt by roughly $1 trillion.
A delegation of community bankers from the Independent Community Bankers of America met with FASB on widespread concerns regarding the Expected Credit Loss Proposal
Lauren Smith, senior manager, and John Lankenau head of valuation and accounting product solutions, both at Primatics Financial, discuss the FASB’s proposed CECL standard, why it’s causing concern for financial institutions, and how using technology can assist with impending changes.
A new study shows that contrary to claims by the banking industry, the fair value approach to valuing financial instruments is a far more accurate indicator of a bank’s risk of failure.
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 banks account for credit losses on their balance sheets.