US banks are asking the Federal Reserve to wait until 2021 before they require lenders to incorporate the impact of forthcoming accounting changes into their annual stress-test submissions.
Already faced with a potentially large hit to capital from the switch to the Current Expected Credit Loss accounting standard, bank lobbyists are calling for a stay of execution, as well as a quantitative impact study (QIS) to determine how CECL will interact with the watchdog’s annual stress-testing
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