Former FASB chair defends his legacy as more than CECL


Russell Golden, who just stepped down from the Financial Accounting Standards Board, says he wants to be remembered for encouraging open discourse over new rules and efforts to simplify financial accounting.


Forbearance during coronavirus a double-edged sword


Borrower relief is necessary in a national emergency, but if the exclusion of the deferred loans from troubled debt restructurings is extended past the end of the year, safety and soundness could be compromised.


‘Another unprecedented period’: FDIC reports dramatic 1Q profit drop


In one of the first comprehensive analyses of how the banking industry was affected by the onset of the coronavirus pandemic, the agency said quarterly income fell by nearly 70% from a year earlier.


Strip FASB of its powers


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.


PPP fee income will go straight to loan-loss reserves at many banks


The millions of dollars earned from Paycheck Protection Program transactions will help cover rising provision costs tied to the new CECL accounting standard and coronavirus shocks to loan books.


Congress was right to freeze CECL


Banks would have drowned if lawmakers hadn't delayed the new accounting standard during the coronavirus pandemic.


Why some small banks are taking their CECL lumps now


Banks had an opportunity to delay compliance with the new accounting standard, but many opted to move forward to get ahead of credit issues that could arise from the coronavirus outbreak.


PacWest reports 1Q loss over goodwill impairment charge


The Los Angeles regional bank recorded the $1.5 billion noncash charge after its stock price ended March below its tangible book value.


Don’t use coronavirus as an excuse to derail CECL


Lawmakers delayed the new accounting standard as part of the stimulus package, but they shouldn't let bankers persuade them to eliminate it outright.


Bankers hope reg relief doesn’t end when coronavirus does


Measures that delay the Current Expected Credit Losses standard and reduce a community bank capital ratio are temporary, but the industry now sees an opening to argue that they should be permanent.