United States
The FASB recently provided temporary optional guidance intended to ease the burden reference rate reform on financial reporting.
Learn more about the current expected credit loss standard, the London Interbank Offered Rate transition and tax reform.
Concerns have been raised that replacing Libor with an alternative reference rate may trigger a number of challenges.
Guidance would facilitate transitions of existing debt and derivatives to alternative benchmark rates without creating taxable exchanges.
Information about the LIBOR phase out, identification of replacement rates and resultant operational and accounting considerations.
A recent GASB proposal addresses financial reporting implications resulting from the replacement of an Interbank Offered Rate.
The FASB has added a project to its agenda to address accounting changes necessitated by reference rate reform.
The FASB has added a fifth U.S. benchmark interest rate that may be used in the application of hedge accounting.
OCC provides clarification regarding how examiners evaluate and communicate bank performance under CRA to promote consistency and efficiency