FASB’s purchased financial assets update: What’s changing and what it means for your institution

Join Abrigo’s experts as we break down the FASB’s new ASU on Purchased Financial Assets (PFA). We’ll unpack the intent behind the changes and examine what it means for your institution’s past, current, and future acquisitions. Whether you’re already applying the standard or preparing for upcoming transactions, this session will provide practical insights to help you navigate adoption with confidence.

In this session, we’ll discuss how the new guidance impacts accounting for purchased assets under CECL, explore the transition from PCD (Purchased Credit Deteriorated) to PFA classifications, and highlight the operational and reporting implications institutions should consider. You’ll walk away with a clear understanding of the adjustments required for compliance, as well as strategies for streamlining data management and system updates to meet the new expectations efficiently.

You will learn:

• The rationale and major changes introduced in the PFA update

• How the new definitions differ from legacy PCD accounting

• Considerations for CECL modeling, disclosures, and system updates

• Practical tips for managing the transition and maintaining compliance