The FDIC, the Board of Governors of the Federal Reserve, and the Office of the Comptroller of the Currency (the Agencies) will jointly host a webinar to discuss a new transition provision in an interagency Interim Final Rule (IFR) to delay the impact that the current expected credit losses methodology (CECL) for estimating allowances for credit losses has on regulatory capital. The webinar is scheduled for Tuesday, April 14, 2020, at 3:00 p.m. ET.
Statement of Applicability to Institutions with Total Assets Under $1 Billion: This Financial Institution Letter is applicable to all FDIC-supervised institutions that are required by U.S. generally accepted accounting principles (U.S. GAAP) to adopt CECL in 2020. Generally, institutions with total assets under $1 billion would not meet this criteria.
Chief Executive Officer
Chief Financial Officer
Chief Risk Officer
Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).