FASB Roundtable to Cover CECL Implementation Issues, January 28

The Financial Accounting Standards Board (FASB) will hold a public roundtable discussion on implementation issues related to the current expected credit loss (CECL) standard January 28 from 8:30 a.m. to 2:00 p.m. at the Board’s offices in Norwalk, CT.

Roundtable participants will include representatives of banks of various sizes, regulators, and other stakeholders. Agenda topics will include the FASB staff’s research on credit losses agenda requests, including a proposal submitted by a group of banks to consider an alternative to the income statement impact of the current expected credit losses (CECL) model. FASB’s consideration of charge-offs and recoveries as a component of the vintage disclosures and other transition issues will also be discussed.

The meeting will be livestreamed on FASB's Web site. Observers who wish to attend in person must register in advance with limited seating available on a first-come, first-served basis.

FASB issued a final update in November to clarify the effective date for its CECL standard, making clear that credit unions would not need to begin reporting data on call reports until the beginning of 2022.