The board has voted to defer the effective date of its long-duration insurance contract standard for one year.
Richard Jones is making post-implementation reviews of standards one of his top priorities, and taking a closer look at FASB’s crowded agenda.
Two bills — one providing relief from a loan accounting standard and another extending forbearance measures — would collectively contain credit losses.
The six largest credit card issuers have set aside billions of dollars worth of reserves in response to the novel coronavirus as well as the adoption of the Financial Accounting Standards Board’s new credit losses standard.
Borrower relief is necessary in a national emergency, but if the exclusion of the deferred loans from troubled-debt restructurings is extended past the end of the year, safety and soundness could be compromised.
The pandemic and the new accounting standard are leading to lower regulatory capital ratios at global investment banks, according to a new report.
Lawmakers delayed the new accounting standard as part of the stimulus package, but they shouldn't let bankers persuade them to eliminate it outright.
Measures that delay the Current Expected Credit Losses standard and reduce a community bank capital ratio are temporary, but the industry now sees an opening to argue that they should be permanent.
The Financial Accounting Standards Board will be meeting next week to discuss the impact of the novel coronavirus pandemic on its stakeholders, including pushing back the effective dates of some of its upcoming accounting standards.
The $2 trillion stimulus package, which the House passed earlier in the day, aims to expand Federal Reserve liquidity resources and provide financial institutions with some regulatory relief.