Removing Barriers Blog

Regulators Issue CECL FAQs
Posted April 05, 2019 by CUNA Advocacy

Together with the bank regulators, the NCUA issued FAQs on FASB’s CECL (current expected credit loss) accounting standard. The FAQs expand on (and incorporate) previously issued FAQs.

In the FAQ document, the agencies note that they plan to issue supervisory guidance on CECL prior to its effective date. Until that guidance issued, “institutions should consider the relevant sections of existing ALLL policy statements, the 2016 Joint Statement, and these FAQs in their implementation of the new accounting standard.”

The FAQs are in advance of Thursday’s (4/11) interagency CECL webinar.