Want Answers on CECL? Fed Webinar Aimed at Non-Bankers
**The FASB issued the final CECL standard on June 16, 2016. For up-to-date information and resources, access the updated CECL Prep Kit.
The Federal Reserve announced it will hold a special information session later this month for accountants, consultants, auditors and others to learn more about the FASB’s forthcoming current expected credit loss model, or CECL. Steve Merriett, the Fed’s Chief Accountant, will lead the webinar discussion on Oct. 30 from 1 p.m. to 2:30 p.m. ET, the Fed said in an email notice. Merriett is with the Fed Board of Governor’s Division of Banking Supervision and Regulation.
The FedPerspectives session is in addition to the Ask the Fed call Thursday, Oct. 22. “That call [Ask the Fed] is designed for bankers and we already have received lots of good questions from many of you,” the Fed said in its notification.
The Fed’s sessions aim to clear some of the confusion on the CECL model, which has been gaining attention as the expected release date nears.The Financial Accounting Standards Board (FASB) said earlier this month it now anticipates its final version of the long-debated CECL model will be issued in the first quarter of 2016.
To learn more about CECL, download the whitepaper, A Practical CECL Action Plan.