United States
Our coronavirus white paper has been updated for financial reporting matters related to the Consolidated Appropriations Act, 2021.
Potential extension of the financial reporting relief related to TDRs and CECL provided to certain financial institutions in the CARES Act.
The FDIC recently issued an FAQ, which includes answers to questions addressing COVID-19 financial-reporting-related topics.
A revised interim final rule discusses the estimated impact on regulatory capital for institutions that implement CECL in 2020.
The recently enacted Coronavirus Aid, Relief, and Economic Security Act includes provisions that have financial reporting implications.
The CARES Act provides optional temporary current expected credit losses relief for certain insured depository institutions.
An interagency policy statement has been issued in response to the issuance of FASB Accounting Standards Update 2016-13
Our updated white paper includes discussion of the new credit losses accounting guidance for loans measured at amortized cost.
FASB votes to defer the effective dates of leases, CECL and hedging for certain entities and insurance for all entities.
If finalized, a recent FASB proposal would defer the effective dates for certain of its guidance for certain entities.
ASU 2019-05 provides the ability to elect the fair value option for certain financial assets upon transition to ASU 2016-13.
OCC provides clarification regarding how examiners evaluate and communicate bank performance under CRA to promote consistency and efficiency