Washington Report 360 | October 18, 2019
Washington Report 360 | October 18, 2019
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Washington Report 360 | October 18, 2019

Federal banking agencies’ statement on the FASB’s current expected CECL methodology; Highlights of FRB speech and interagency notice.

Key highlights

  • The FRB, OCC, FDIC, and NCUA proposed an interagency policy statement on the FASB’s current expected credit loss (CECL) methodology; CECL is effective for most public financial institutions beginning in 2020 though FASB deferred the effective date for all other institutions to 2023.
  • The evolution of digital assets, including stablecoins, as well as the related risks and regulatory authorities were highlighted in an FRB speech and interagency notice. 

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