RapidRatings Blog

FASB in the Clinches: Notes on the CECL Public Meeting of 1/28/19

January 28,2019

FASB just held its long-awaited public meeting on CECL. Contrary to the expectations of many, it was not a heated procession of opponents arguing against CECL from all sides. Rather, it was a...

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Current Expected Credit Loss: The Pot is Still Stirring

January 16,2019

The banking industry and its allies in Congress have been outspoken in their fierce opposition to CECL since the broad outlines became clear, well ahead of FASB’s formal promulgation – its...

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OCC Issues Bulletin 2017-21, an FAQ to Supplement Guidance on Third-Party Relationships

August 14,2017

New bulletin clarifies role of fintechs and emphasizes need to evaluate financial condition throughout the lifecycle

In the four years since the Office of the Comptroller of the Currency (OCC)...

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Begin CECL Planning Now: IFRS 9 May Help Banks to Prepare

January 13,2017

As U.S. banks begin 2017 with a countdown to their transition deadlines on CECL, they will soon realize the analytical and administrative challenges that lie ahead. The FASB’s Accounting Standard...

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Getting Ready for CECL: 3 Steps to Take Now Towards CECL Preparedness

December 02,2016

This past June the Federal Accounting Standards Board (FASB) released the Accounting Standards Update 2016-13 which is a major reform of how financial institutions calculate loss allowances for...

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