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Federal Deposit
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Each depositor insured to at least $250,000 per insured bank

Since 1933, no depositor has lost a penny of FDIC-insured funds

Financial Institution Letters

FIL-32-2020
March 31, 2020

Joint Statement on the Interaction of the CECL Revised Transition Interim Final Rule with Section 4014 of the Coronavirus Aid, Relief, and Economic Security Act

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FIL-32-2020 - PDF (PDF Help)

Summary:

This joint statement clarifies the interaction between the interim final rule that provides a five-year transition period for the impact of the current expected credit loss methodology (CECL) on regulatory capital and the temporary CECL relief provided by the Coronavirus Aid, Relief, and Economic Security Act.

Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution Letter (FIL) is applicable to banks that were required (as of January 1, 2020) to adopt CECL during the 2020 calendar year under U.S. generally accepted accounting principles.

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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).

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