Media Advisory 04-20-21

FASB to Host Virtual Credit Losses Roundtable on May 20, 2021

Implementation, Purchased Financial Assets with Credit Deterioration, and Troubled Debt Restructurings Will Be Discussed

Norwalk, CT, April 20, 2021—The Financial Accounting Standards Board (FASB) today announced it will host a virtual roundtable on implementation of the current expected credit losses (CECL) standard and related technical issues.  The event will be webcast live at on Thursday, May 20, from 9 a.m. to 12:00 p.m. Eastern Daylight Time.

The listening session is intended to help FASB members and staff gather additional feedback on CECL implementation, including technical issues related to purchased financial assets with credit deterioration (PCD) and troubled debt restructurings (TDRs). The FASB staff will share feedback received to date and then ask roundtable participants for their thoughts and observations.

Roundtable participants will include representatives of financial institutions of various sizes, regulators, and other stakeholders. A list of all participants will be posted to the FASB website prior to the meeting.

The roundtable meeting will be live streamed on the FASB website. To access the webcast, go to the Attend a Meeting Remote (live webcast) option on the “Upcoming Meetings” section of the FASB website. The recording will be archived on the FASB website for 90 days following the meeting.