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FASB to Propose Additional CECL Clarifications

Aug 31, 2018
During Wednesday's open meeting, the Financial Accounting Standards Board (FASB) indicated it would propose additional amendments to further clarify its current expected credit losses (CECL) standard

During Wednesday's open meeting, the Financial Accounting Standards Board (FASB) indicated it would propose additional amendments to further clarify its current expected credit losses (CECL) standard.

The FASB is expected to issue the amendments in the fourth quarter of 2018 relative to:

  • Including accrued interest in defining amortized cost basis;
  • Reversing accrued interest on nonaccrual loans;
  • Transferring loans and debt securities between categories; and
  • Recoveries.

FASB agreed to issue the proposal during its July meeting, with comments due Sept. 19.

See more details from FASB's Transition Resource Group for Credit Losses.