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Home » Financial regulators to discuss CECL changes during April 11 webinar
Policy & Issues

Financial regulators to discuss CECL changes during April 11 webinar

March 25, 2019

NCUA will participate in a webinar April 11 with other financial regulators on coming changes to the current expected credit loss (CECL) standard. The announcement comes after longtime efforts from CUNA calling for additional resources to help credit unions with implementation, including meetings with NCUA dating back to summer 2018 and a recent letter in which CUNA President/CEO Jim Nussle specifically called for interactive resources such as a webinar.

CECL uses an “expected loss” measurement for the recognition of credit losses. CUNA is concerned with its effect on financial standing of credit unions, as well as the compliance burden it is already presenting. CUNA believes the application of CECL to credit unions is inappropriate, and joined other trades earlier this month calling for an implementation delay.

The April 11 webinar is scheduled to begin at 2 p.m. (ET). Registration is now open.

It will be hosted by the Federal Reserve Bank of St. Louis, and the Financial Accounting Standards Board (which issued the standard), Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Securities and Exchange Commission and the Conference of State Bank Supervisors will present.

The webinar will focus on how CECL changes will affect smaller institutions and will include a detailed discussion of the weighted average remaining maturity method for estimating the allowance for credit losses. There will be a question-and-answer session, and participants also may submit questions in advance at rapid@stls.frb.org.

The webinar will be archived approximately three weeks after the live event. The archived version requires a separate registration.

According to NCUA, it will post frequently asked questions about the anticipated CECL changes in the near future.

KEYWORDS cecl
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