FASB Discusses Credit Losses

At its June 5, 2019, meeting, the FASB discussed its project on Codification improvements related to credit losses.

The Board made tentative decisions about transition relief for troubled debt restructurings, disclosures related to accrued interest receivables, the collateral maintenance practical expedient, and negative allowances on (1) purchased financial assets with credit deterioration and (2) available-for-sale debt securities. The Board directed the staff to draft a proposed ASU on these topics for a vote by written ballot.

For more information, see Deloitte’s journal entry as well as the tentative Board decisions on the FASB’s Web site.