WASHINGTON—The Financial Accounting Standards Board (FASB) is set to discuss feedback from the January roundtable on its current expected credit loss (CECL) standard at a board meeting scheduled for 9 a.m. Wednesday.
During the roundtable, FASB considered charge-offs and recoveries and other transition issues, and a group of banks put forward a proposal outlining an alternative to the income statement impact of the CECL standard.
Earlier this month, the credit union trade groups joined with other financial services industry trade groups in urging FASB to delay implementation of its CECL standard. In the letter sent to FASB and the Securities and Exchange Commission (SEC), the groups noted that a delay would allow companies more time to conduct a quantitative impact analysis and consider alternatives.