FASB to host credit losses roundtable in January 2019

At a public meeting on Dec. 19, Financial Accounting Standards Board Chairman Russ Golden announced that the FASB will host a public roundtable discussion on implementation issues related to the credit losses standard. The roundtable is expected to take place in January 2019. Roundtable topics are expected to include the input to the FASB staff’s research on credit losses agenda […]

At a public meeting on Dec. 19, Financial Accounting Standards Board Chairman Russ Golden announced that the FASB will host a public roundtable discussion on implementation issues related to the credit losses standard. The roundtable is expected to take place in January 2019.

Roundtable topics are expected to include the input to the FASB staff’s research on credit losses agenda requests, including a proposal submitted by a group of banks to consider an alternative to the income statement impact of the current expected credit losses (CECL) model. The FASB’s consideration of charge-offs and recoveries as a component of the vintage disclosures and other transition issues will also be discussed.

“Since issuing the credit losses standard in 2016, FASB members and staff have been working with stakeholders to facilitate a smooth transition by addressing questions and obtaining feedback on the guidance,” said Golden. “The roundtable will provide stakeholders yet another opportunity to discuss cost-effective issues they believe the board should address.”

Details about the roundtable, including information for participants and observers, will be announced on the FASB website in early January.

LEVERAGE offers a product to assist credit unions with CECL issues. Read more here.

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