Bank Regulators Clarify CECL Delays
The CARES Act and an interim final rule by bank regulators provided conflicting guidance on CECL implentation, prompting federal bank regulators to issue another joint statement clarifying the rule.
Banking Regulators Delay CECL Implementation
Banks that became subject to CECL this year can delay implementing the standard for two years following an interim final rule issued by federal bank regulators on March 27.
FASB Formally OKs CECL Delay for Some Banks, Credit Unions
The Federal Accounting Standards Board voted on Oct. 16 to delay the new CECL (current expected credit loss) standard for some companies.
