Details:

Publisher's site:
https://www.fdic.gov
Corporate Authors:
Federal Deposit Insurance Corporation (FDIC)
Description:
The federal financial institution regulatory agencies are issuing the attached Frequently Asked Questions on the New Accounting Standard on Financial Instruments – Credit Losses to assist institutions and examiners. This new standard, published by the Financial Accounting Standards Board (FASB) in June 2016, introduces the current expected credit losses methodology (CECL) for estimating allowances for credit losses. The Frequently Asked Questions (FAQs) focus on the application of CECL and related supervisory expectations. The issuance of the FAQs is part of the agencies' efforts to support institutions as they prepare to implement CECL. The agencies plan to update the FAQs periodically.
Content Notes:
Links to https://www.fdic.gov/news/financial-institution-letters/2016/fil16039.html|Fil-39-2016, dated 6/17/2016 (not in FIL list)
Subject:
[+]
Accounting, Auditing, and Securities Disclosure
Dataset Download URL:
https://www.fdic.gov/news/financial-institution-letters/2016/fil16079.html
Format:
PDF
Release Date:
12/19/2016
Update Date:
11/15/2018
Withdrawn Date:
12/01/2018
Agencies Involved:
Federal Deposit Insurance Corporation (FDIC)Board of Governors of the Federal Reserve System (The Fed)Office of the Comptroller of the Currency (OCC)National Credit Union Administration (NCUA)
Fdic Employee Involved:
John RiegerChristine BouvierKenneth Johnson
Other Institutions Involved:
Financial Accounting Standards Board (FASB)
Source:
FDIC Website
Memorandum To:
FDIC-Supervised Banks (Commercial and Savings) and FDIC-Supervised Savings Associations
FIL Number:
FIL-79-2016
Main Document Checksum:
[+]
urn:sha256:48ff18363ff0936d0e419b42380469a5204607ff3c582252efc642a2a2dee6f2
Download URL:
https://archive.fdic.gov/view/fdic/6921/fdic_6921_DS1.pdf
File Type:

Supporting Files

• Frequently Asked Questions on the New Accounting Standard on Financial Instruments - Credit Losses

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