OCC’s Allowance for Loan and Lease Losses — The OCC discusses the necessity for banks to be required an ALLL. (1998) Click here to view OCC’s Handbook Click here to download the PDF Source: OCC Office of the Comptroller of the Currency
Current Expected Credit Loss: CECL News & Events
FASB: Understanding Costs and Benefits
ASU: Credit Losses (Topic 326) – This overviews the expected benefits and anticipated costs of the new credit losses standard. Click here to view FASB’s Overview Click here to download the PDF Source: FASB Financial Accounting Standards Board
FASB Accounting Standards Update: Financial Instruments—Credit Losses (Topic 326) No. 2016-13 June 2016 Measurement of Credit Losses on Financial Instruments
FASB’s Update on Measurement of Credit Losses — Main provisions of the Accounting Standards Update is to require assets to be measured at amortized cost. ( 6/16) Click here to view FASB Update Click here to download the PDF Source: FASB Financial Accounting Standards Board
MIAC Hosts Second CECL Launch Event in Charlotte, NC!
April 28, 2017 / Press Release Charlotte, NC – On April 25th, Mortgage Industry Advisory Corporation (MIAC), hosted the second in a series of private events to launch its CECL process rollout, in uptown Charlotte, NC at “Fahrenheit.” MIAC was joined by its core constituency of clients and strategic partners. Effectively, the FASB has formalized… Read more »
MIAC Hosts First CECL Launch Event in NYC!
January 18, 2017 / Press Release New York, NY – On January 10th, Mortgage Industry Advisory Corporation (MIAC), hosted the first in a series of private events to launch its CECL process rollout, in Midtown, NYC. CECL, or Current Expected Credit Loss, and other FASB pronouncements introduced since the crisis, differ from precedent in that the new… Read more »
CECL – Current Expected Credit Loss: A CORE Competency?
Current Expected Credit Loss (“CECL”, ASC 825-15) is the Financial Accounting Standards Board’s (FASB) new model for calculation of loan loss reserves, which requires consideration of multiple scenarios looking out over the lifetime of the instrument. These standards replace those now in use for preparing Allowance for Loan & Lease Losses, (“ALLL”), purchased credit-deteriorated assets,… Read more »