FASB to hold CECL implementation workshops

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The Financial Accounting Standards Board announced a series of workshops aimed at helping community banks and credit unions with implementing the current expected credit losses standard.

The workshops are 90- to 120-minute interactive sessions presented by the board’s staff in various locations around the country, often in conjunction with other professional events.

They will focus on techniques for estimating credit loss reserves and other common implementation issues.

The board currently has three workshops scheduled:

  • Monterey, California: Oct. 28, 2019;
  • Philadelphia: Nov. 19, 2019; and
  • Via webinar: Dec. 19, 2019.

FASB is also working with the Conference of State Bank Supervisors to hold workshops in participating states based on local training needs.

"The FASB is committed to ensuring community banks, credit unions, and lending institutions of all sizes can successfully implement the credit losses standard,” said FASB chairman Russell Golden, in a statement. “To support their success, FASB staff experts are taking our CECL Implementation Workshops to conferences and other gatherings of these institutions throughout the United States. It’s yet another way we’re promoting a smooth transition to the standard for all.”

For more information, visit FASB’s website.

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CECL FASB Credit unions Community banks Accounting standards