News Release 01/09/19
FASB Announces Credit Losses Roundtable for January 28, 2019
Participants to Discuss Current Expected Credit Losses Model
Norwalk, CT, January 9, 2019—The Financial Accounting Standards Board (FASB) today announced the date of its public roundtable discussion to gather additional views on the credit losses standard.
The event will take place on Monday, January 28, 2019, from 8:30 a.m. to 2:00 p.m. Eastern Standard Time at the FASB offices located at 401 Merritt 7 in Norwalk, Connecticut.
Roundtable participants will include representatives of banks of various sizes, regulators, and other stakeholders. Agenda topics will include the FASB staff’s research on credit losses agenda requests, including a proposal submitted by a group of banks to consider an alternative to the income statement impact of the current expected credit losses (CECL) model. The FASB’s consideration of charge-offs and recoveries as a component of the vintage disclosures and other transition issues will also be discussed.
Observers who wish to attend in person must register in advance (seating is available on a first-come, first-served basis).
The meeting will be audio webcast and archived on the FASB website for 90 days.
About the Financial Accounting Standards Board
Established in 1973, the FASB is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the FASB. For more information, visit www.fasb.org.