In an effort to clarify certain aspects of its Current Expected Credit Loss requirements, the Financial Accounting Standards Board issued an Accounting Standards Update (ASU) to offer improved guidance on the applicability to credit losses, hedging and recognition and measurement.
Independent Community Bankers of America First Vice President, Accounting and Capital Policy James Kendrick told Dodd Frank Update the ASU’s issuance is a welcome development for the financial industry.
Find out more details about what is addressed in the guidance.