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On June 16, 2016, the Financial Accounting Standards Board (FASB) released the new standard of Current Expected Credit Losses. To assist with implementation planning, the FASB is responding to bankers who are asking for clarification on how to implement some of the provisions in the new standard. Normally the FASB leaves implementation to bankers and regulators, but in this case the FASB is fielding so many questions that they have formed a Transition Resource Group (TRG) to deal with the issues. While the implementation date for this new standard for most institutions is in 2020, waiting is simply not a viable option. Please join Gary Deutsch as
he discusses current TRG issues and the implementation guidance that the FASB is offering as you plan for your institution's CECL transition date.
Key Learning Objectives- Consideration of prepayments in the discount rate used in a discounted cash flow method
- Transitioning pools of purchased credit impaired (PCI) assets to PCD assets
- Implementation questions related to reasonably expected troubled debt restructurings (TDRs)
- Methods for estimating the life of a credit card receivable
- When beneficial interests may be within the scope of purchased financial assets with credit deterioration (PCD asset) accounting
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Gary Deutsch
Owner - BRT Publications LLC
Mr. Deutsch is a licensed CPA in Maryland. He has also achieved the Certified Management Accountant, Certified Internal Auditor and Certified Bank Auditor designations. Mr. Deutsch has trained thousands of financial institution professionals in all aspects of risk management and has written numerous books. |
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