News Topic: FASB

Problems with the new accounting standard could be solved by modifying how reserves are calculated so that changes are more in line with industry growth. ... Read full article

The SEC and FASB control the process now, but Congress should give banking regulators a more central role in overseeing the creation of accounting rules. ... Read full article

Detractors are suddenly hopeful that the controversial accounting standard could be delayed or altered after FSOC's longer-than-expected closed session on the issue. ... Read full article

What an FHFA led by Mark Calabria would mean for GSE reform; 7 (realistic) predictions about fintech in 2019; Kathy Kraninger signals new tone atop CFPB; and more from this week's most-read stories. ... Read full article

Brad Sherman of California and Gregory Meeks of New York are worried the proposed accounting standard for recording loan losses will reduce access to credit for small businesses and low- and moderate-income communities. ... Read full article

The Financial Accounting Standards Board is requiring all companies to record leases for property and equipment on their balance sheets. Here’s how that revision could affect banks’ loan decisions — and their own capital ratios. ... Read full article

Bank groups are pushing a variety of proposals to delay the loan-loss rule or soften its impact. The accounting standards board has agreed to review at least one of them — but at a pace that might not be fast enough for lenders. ... Read full article

The Financial Accounting Standards Board is considering a plan to have banks break out charge-offs and recoveries on a year-by-year basis. Bankers fear new systems would be needed to comply. ... Read full article

The Bank Policy Institute said the Current Expected Credit Loss model is a “sea change” from how banks have traditionally set aside reserves. ... Read full article

Banks ask Congress for help with a rule that forces them to estimate loan losses; The network will allow banks to "exchange and verify trade information." ... Read full article

While the looming loan-loss accounting standard has been criticized for its complexity and the potential cost to implement, some advocates believe it could also lead to better pricing decisions and improve communication within a bank. ... Read full article

The $2.1 billion settlement is likely to be the last of the big toxic mortgage cases from the financial crisis; the move pressures rivals to lower prices. ... Read full article

The industry continues to push for leniency as the clock ticks toward adoption of the drastic change to how banks account for expected loan losses. ... Read full article

Fannie Mae and Freddie Mac may need to tap into U.S. Treasury funds when they adopt CECL, a new accounting rule that makes companies set aside money upfront for expected loan losses. ... Read full article

A new accounting standard will soon go into effect, but banks still lack clarity on how to conform. ... Read full article

Many institutions have delayed planning for a big change to reserve accounting despite a belief that they should start testing systems and methodologies next year. ... Read full article

Timothy Zimmerman, who once called CECL a dangerous proposal, now sees a justification for the FASB standard. And he is urging bankers to start working on plans to comply with the change. ... Read full article