The Financial Accounting Standards Board recently issued an Accounting Standards Update that amends guidance related to troubled debt restructurings (TDR) for creditors and vintage disclosures required under CECL. For affected institutions, the amendments compel advanced planning—now.
In Implications of new TDR guidance under CECL, KPMG explains that these amendments may both simplify some processes and introduce new complexities in others. Key implications include loan modification accounting, impact on CECL estimation models, and enhanced disclosures.
