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Banker Teleconference on FASB Proposal to Change the Accounting for Credit Losses

May 9, 2013
Summary: The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) that would change recognition and measurement of credit losses for financial and regulatory reporting purposes. The FASB鈥檚 comment period closes May 31, 2013. The 多宝游戏下载 will host a free 90-minute teleconference at 1:00 p.m. EDT, May 16, 2013, to discuss the proposal with interested bankers. Employees of all 多宝游戏下载-supervised institutions are invited to participate. 

Statement of Applicability to Institutions under $1 Billion in Total Assets: This Financial Institution Letter applies to all 多宝游戏下载-supervised institutions. 


 

Highlights: 

  • The FASB proposes to adopt an expected credit loss approach that would replace several methods now used in accounting for credit losses, including loans where impairment is now based on a probable incurred-loss model. The proposal would apply to loans and debt securities carried at amortized cost and fair value with changes reported in other comprehensive income. The proposal is intended to require more timely recognition of credit losses.
  • Bankers are encouraged to review the FASB's ASU and submit comments to the FASB on those aspects of the proposal of interest to them. The FASB extended its comment deadline from April 30 to May 31, 2013. The ASU can be accessed at http://www.fasb.org/cs/ContentServer?c=Document_C&pagename=FASB%2FDocument_C%2FDocumentPage&cid=1176160587228. 

    The FASB has also provided an Electronic Feedback Form at .
  • The 多宝游戏下载's teleconference will be on May 16, 2013, from 1:00 p.m. to 2:30 p.m. EDT and will consist of a presentation followed by a question-and-answer period. A transcript of the call will be made available after the call.
  • Financial institution officers and employees wishing to partici-pate in the 多宝游戏下载 call should dial 888-769-8516 and enter passcode 9436220#. Please join the presentation 30 minutes before the 1:00 p.m. EDT start time.
  • PowerPoint slides are an integral part of the teleconference presentation. Participants are encouraged to have a copy of the slides with them during the presentation. A PDF version of the slide presentation is available at Telecon 5-16 - FI - Credit Losses - PDF (PDF Help).

Distribution: 
多宝游戏下载-Supervised Banks (Commercial and Savings) 
多宝游戏下载 Supervised Savings Associations 

Suggested Routing: 
Chief Executive Officer 
Chief Credit Officer 
Chief Financial Officer 
Principal Accounting Officer 

Teleconference number: 
(888) 769-8516 
Passcode: 9436220# 

Note: 
多宝游戏下载 Financial Institution Letters (FILs) may be accessed from the 多宝游戏下载's Web site at 
http://www.fdic.gov/news/financial-institution-letters/2013/index.html. 

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html. 

Paper copies may be obtained via the 多宝游戏下载's Public Information Center, 3501 Fairfax Drive, E 1002, Arlington, VA 22226 (877-275-3342 or 703 562 2200) 

Additional Related Topics:

  • Consolidated Reports of Condition and Income (Call Report)
FIL-18-2013
Attachment(s)
Contact(s)
Robert Storch, (202) 898-8906
Gregory Eller, (202) 898-3831

Last Updated: May 9, 2013