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.