The FASB proposes to adopt an expected credit loss approach that would replace several methods now used in accounting for credit losses, including loans where impairment is now based on a probable incurred-loss model. The proposal would apply to loans and debt securities carried at amortized cost and fair value with changes reported in other comprehensive income. The proposal is intended to require more timely recog¬nition of credit losses.
Bankers are encouraged to review the FASB's ASU and submit comments to the FASB on those aspects of the proposal of interest to them. The FASB extended its comment deadline from April 30 to May 31, 2013. The ASU can be accessed at http://www.fasb.org/cs/ContentServer?c=Document_C&pagename=FASB%2FDocument_C%2FDocumentPage&cid=1176160587228.
The FASB has also provided an Electronic Feedback Form at https://www.fafsurveys.org/se.ashx?s=4CA36E9212DA4751.
The FDIC's teleconference will be on May 16, 2013, from 1:00 p.m. to 2:30 p.m. EDT and will consist of a presentation followed by a question-and-answer period. A transcript of the call will be made available after the call.
Financial institution officers and employees wishing to partici-pate in the FDIC call should dial 888-769-8516 and enter passcode 9436220#. Please join the presentation 30 minutes before the 1:00 p.m. EDT start time.
PowerPoint slides are an integral part of the teleconference presentation. Participants are encouraged to have a copy of the slides with them during the presentation. A PDF version of the slide presentation is available at Telecon 5-16 - FI - Credit Losses - PDF (PDF Help).
FDIC-Supervised Banks (Commercial and Savings)
FDIC Supervised Savings Associations
Chief Executive Officer
Chief Credit Officer
Chief Financial Officer
Principal Accounting Officer
Consolidated Reports of Condition and Income (Call Report)
Telecon 5-16 - FI - Credit Losses - PDF (PDF Help)
Transcript of Teleconference PDF
Robert F. Storch, Chief Accountant, at RStorch@FDIC.gov or (202) 898-8906
Gregory E. Eller, Deputy Chief Accountant, at
Geller@FDIC.gov or (202) 898-3831
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies may be obtained via the FDIC's Public Information Center, 3501 Fairfax Drive, E 1002, Arlington, VA 22226 (877-275-3342 or 703 562 2200)