FDIC Atlanta Region Regulatory Conference Call
Current Expected Credit Losses (CECL) Methodology
Thursday, June 22, 2017
10:00 AM to 11:30 AM Eastern Time
On June 16, 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This new accounting standard introduces the current expected credit losses (CECL) methodology for estimating allowances for credit losses, which will replace today’s incurred loss methodology when the new standard takes effect.
On June 17, 2016, the FDIC and the other federal financial institution regulatory agencies issued a "Joint Statement on the New Accounting Standard on Financial Instruments - Credit Losses" to provide information about the FASB’s new standard, including initial supervisory views regarding the implementation of the CECL methodology by the financial institutions supervised by the agencies. The move to the CECL methodology affects all institutions and represents a significant change to current allowance practices for supervisory agencies and institutions.
The presentation will address the key elements of the new accounting standard, discuss the initial supervisory views as set forth in the June 17 Joint Statement, and describe how institutions can prepare for the transition to the CECL methodology. The presentation will be followed by a question and answer session. Questions may be submitted in advance, or during the call, to ATLConferenceCall@FDIC.gov.Who Should Attend
The conference call is open to FDIC-supervised institutions in the Atlanta Region (i.e. state nonmember banks located in Alabama, Georgia, Florida, North Carolina, South Carolina, Virginia, and West Virginia). Bank directors, officers, and staff members are welcome to participate in the conference call.Registration Information
Please complete the online registration form. Once you register, you will receive the teleconference phone number and passcode. If you need assistance with the registration process or need to modify your registration information, please send an email to ATLConferenceCall@FDIC.gov and include your name, title, and bank name/location.Note: Please register by June 19, 2017 to reserve your telephone line.