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Legal Update

Credit Loss Accounting: US Bank Regulators' Proposal Addresses Concerns About GAAP Update on CECL (Current Expected Credit Loss)

18 April 2018
Mayer Brown Legal Update
On April 17, 2018—responding to significant industry concerns regarding the negative consequences of the required adoption of Accounting Standards Update 2016-13 (Topic 326), Financial Instruments – Credit Losses—the US prudential banking agencies proposed an option to phase-in over three years the day-one adverse effects that this new accounting standard may have on a banking organization’s regulatory capital and to amend related regulatory disclosure and stress-testing (and related provisioning) requirements. This Legal Update discusses this new accounting standard for credit losses and the changes that the bank regulators propose.
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