American Bankers Association Issues Statement on FDIC's CECL Transition Rule
December 18, 2018
December 18, 2018
WASHINGTON, Dec. 18 -- The American Bankers Association issued the following statement by President and CEO Rob Nichols:
"ABA appreciates today's acknowledgement by the FDIC that the Current Expected Credit Loss model presents a substantial change to bank accounting and ultimately, the business of lending. Unfortunately, the implementation phase-in approved today does not go far enough to ensure CECL will function as intended.
"Banks have long been concerned a . . .
"ABA appreciates today's acknowledgement by the FDIC that the Current Expected Credit Loss model presents a substantial change to bank accounting and ultimately, the business of lending. Unfortunately, the implementation phase-in approved today does not go far enough to ensure CECL will function as intended.
"Banks have long been concerned a . . .