Regional banks prepare CECL proposal for FASB

Bank executive says FASB open to weighing concrete proposal, and banks scramble to make one

wooden-abacus
Lobbying effort seeks last-minute changes to new accounting rule

With little more than a year to go before a new US accounting rule comes into effect, banks are readying a proposal for the Financial Accounting Standards Board to temper the rule’s expected reverberations on capital and lending, a bank executive says.

The rule, the Current Expected Credit Loss, was the topic of a meeting in September between regional banks and FASB and regulators. At the gathering in Washington, FASB told the banks it would weigh any concrete proposal on CECL, says a

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