Regulators: Modifying Loans Not Considered Troubled Debt
Banks and credit unions can modify loans for borrowers affected by the coronavirus crisis without having to classify the concessions as troubled debt restructurings.
CECL Expected to Have Little Impact on Community Banks’ Reserves
The banking industry has been deeply concerned over the impact CECL would have on total reserves and capital. But after first quarter earnings many New England community banks expect their reserves under CECL will be the same, if not smaller, than under the current incurred model.
Nine Months Out, Banks Moving Slowly on CECL Implementation
With less than one year to go, most public banks appear to still be in the formative stages of implementing a new nationwide accounting rule, while at the same time trying to assess its impact on their consolidated financial statements.
Sageworks Gauges Forecasting Durations For CECL
More than a third of bank and credit union executives said they felt comfortable with forecasting economic projections 12 months into the future in anticipation of FASB’s coming CECL rule, Sageworks recently said.
Sageworks Poll: 42 Percent Of FIs Want To Start CECL Prep By Q4 ’17
More than 40 percent of bank and credit union professionals said in a recent survey that financial institutions should begin working on preliminary CECL calculations by the end of next year, the financial information firm Sageworks said this week.
Sageworks: One-Third Of Bankers Have Yet To Move On CECL
One-third of bankers and credit unions executives have not yet begun preparations for the Financial Accounting Standards Board’s (FASB) coming Current Expected Credit Losses (CECL) standard, according to a new poll by the financial information firm Sageworks.
