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Monday, December 21, 2015

Basel Issues Regulatory Expectations on Credit Loss Accounting

The Basel Committee on Banking Supervision issued its guidance on credit risk and expected credit loss accounting, which is intended to set common worldwide regulatory expectations for loan loss accounting, including the Financial Accounting Standards Board’s current expected credit loss model. Use of forward-looking information; grouping of credit exposures; and linkage of accounting, credit and capital management systems are among the key regulatory expectations in the Basel document.

In response to recommendations made by ABA, the Basel guidance emphasizes that implementation will be based on the size, complexity and materiality of an organization’s banking products. ABA expects further U.S.-specific guidance to be proposed by the federal banking agencies soon after FASB’s CECL model is issued, which will be in the first quarter of 2016.

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