TMIB Lite: The Road to CECL
Podcast Show Notes:
- Our This Month In Banking (TMIB) podcast features discussion with colleagues and other industry thought leaders on interesting banking news that happened this month. TMIB will be available on the last Wednesday of every month here, and on Apple and Droid podcast apps for your listening enjoyment. Join us on your commute or at your desk.
Topic: The Road to CECL
- Start time: 1:20
- Jeff Marsico was at the 2018 FMS Forum in Orlando where he heard the Accounting and Regulatory Update presentation by the Chief Accountants from the FDIC, OCC, NCUA and a Partner from Crowe. The presentation included supervisory views on some of the myths circulating about CECL implementation as well as descriptions and samples of calculating CECL. Did you know the allowance is now called the Allowance for Credit Losses (ACL)? Also, did you know that a new rule proposed jointly by bank regulators and approved by The Federal Reserve Board offers institutions the option to phase in the initial effect of CECL on regulatory capital over 3 years? Where are you on the road to CECL?
Watch for episode 31 of This Month in Banking to be released on Wednesday, July 25, 2018 and a new episode on the last Wednesday of every month.
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