The Federal Reserve Board (FRB), Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) published a joint proposal to:
CECL requires firms to recognize “Lifetime Expected Credit Losses” of Financial Assets measured at amortized costs. This applies to firms subject to the regulatory capital rules of all agencies (OCC, FRB & FDIC) and conform to U.S. GAAP. The proposed changes will result in regulatory capital impact across key areas.
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