April 16. 2020

New Transition Guidance for CECL Implementation

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On April 14, 2020, the US federal banking regulators held a webinar to provide further guidance on relief from the effect of the current expected credit losses methodology (“CECL”) on regulatory capital. This guidance was intended to clarify the interaction between two recently issued rules (the 2019 CECL rule and the 2020 CECL interim final rule) that provide the option to delay the impact of CECL on regulatory capital and a provision of the Coronavirus Economic Stabilization Act of 2020 (“CARES Act”) that provides optional temporary relief from complying with CECL. Please see our Legal Update for further details; presentation materials used during the webinar can be found here.

The post New Transition Guidance for CECL Implementation appeared first on Retained Interest.

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