Regulatory Agencies Publish Updated FAQs on the New Credit Losses Standard
Yesterday, the federal financial institution regulatory agencies published updated Frequently Asked Questions (FAQs) on the New Accounting Standard on Financial Instruments – Credit Losses in order to assist financial institutions and examiners with the new standard. The updated FAQs are being issued in response to recent developments related to the current expected credit losses methodology (CECL) for estimating credit loss allowances.
The updated FAQs can be found here.
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