FASB Announces Credit Losses Roundtable for January 28,
Participants to Discuss Current Expected Credit Losses
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.
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
The meeting will be audio webcast and archived on the FASB
website for 90 days.
About the Financial Accounting Standards
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 http://www.fasb.org/.