News Topic: Accounting standards

The industry called for modifications to the regulator's phase-in proposal on the new credit loss standard while acknowledging the broader changes it wants are up to the Financial Accounting Standards Board. ... Read full article

At a time when the industry is focused on serving members and assisting with the economic recovery, executives shouldn't be burdened by a costly new credit loss methodology. ... Read full article

Two bills — one providing relief from a loan accounting standard and another extending forebearance measures — would collectively contain credit losses. ... Read full article

Lawmakers should go further than their recent criticism of the Financial Accounting Standards Board's loan-loss rule and just hand over its duties to the Securities and Exchange Commission. ... Read full article

If the new accounting standard poses too many risks during an economic crisis, then it's probably not a good idea at all. ... Read full article

Lenders grew more optimistic that Congress will undo or narrow the loan-loss accounting standard after members of a House subcommittee assailed Russell Golden for approving the rule without studying its impact on credit availability. ... Read full article

Hal Schroeder of FASB claims that investors have no confidence in the current loss standard. Several investors at a prominent accounting conference disagree. ... Read full article

The accounting standard is coming regardless of a delay. It will bring some nonbank lenders to the forefront of banking competition. ... Read full article

The new accounting standard meant for publicly traded firms creates greater headaches for privately held community banks. ... Read full article

Regulators should proceed with removing one of the margin requirements for trading swaps. ... Read full article

With some adjustments, the loan-loss accounting standard can be more secure and workable for banks. ... Read full article

Russ Golden, the chairman of the Financial Accounting Standards Board, says implementation of its credit loss rule should go forward, but will issue new supporting documents ... Read full article

Accounting rules group is weighing whether to consolidate and push back deadlines for smaller firms to comply with credit-loss accounting change in light of concerns they will not be ready. ... Read full article

Lawmakers recently introduced legislation to delay implementation of a new accounting standard for current expected loan losses. But policymakers should seek to preserve the accounting body’s independence. ... Read full article

The bipartisan House effort to delay the Current Expected Credit Loss standard comes less than a month after Republican senators introduced a similar bill. ... Read full article

Readers weigh in on the role of the Financial Accounting Standards Board, consider personnel changes at the Consumer Financial Protection Bureau, debate the viability of public banks and more. ... Read full article

The effort to delay CECL comes a week after a House panel mounted a bipartisan attack on the new FASB standard. ... Read full article

Banking officials can reasonably disagree on new standards for current expected credit losses, but the accounting body developed the rules over many years and based them on extensive feedback. ... Read full article