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FASB's Credit Loss Recognition Proposal - A Quick Look

Overview
On December 20, 2012, the Financial Accounting Standards Board (FASB) issued the exposure draft of a proposed Accounting Standards Update (ASU), "Financial Instruments - Credit Losses (Subtopic 825-15)," substantially revising the impairment model as part of its ongoing convergence effort with the International Accounting Standards Board (IASB).

Industry experts discuss the interpretations and possible implications of this proposal on bank balance sheets, earnings, and capital position. Particular attention is placed on comparing the current Allowance for Loan and Lease Loss (ALLL) process to the proposed ALLL process and the impact of allowance upon adoption.
 

Recorded
January 24, 2013

90 minutes



Agenda
Learning Objectives
Panelists
Pricing and Registration
CE Credits
Agenda
Who Attends?
  • Description and overview of the exposure draft and the Current Expected Credit Loss (CECL) model, including the proposed rules for credit loss recognition and methods to recognize expected credit losses.
  • Detailed comparison of the current ALLL process to the future ALLL and how the changes are applied to impairment calculated under ASC 450 (formerly FAS 5), ASC 310-10 (formerly FAS 114), and ASC 310-30 (formerly SOP 03-3) as well as modifications accounted for under ASC 310-40 (formerly FAS 15) and securities accounting under ASC 320 (formerly FAS 115).
  • Describe the allowance impact upon adoption including impact to financial statements, capital requirements, assessing PCI performance and more.
  • Discussion around other operational considerations such as time value of money methods, impacts to 114 specific review process and the implied data needs.
 
  • Controllers, CFOs, CEOs, CROs, and Treasurers of financial institutions
  • Asset managers, investment managers and portfolio managers with exposure to the financial services industry
  • Investment Bankers, research analysts
  • Regulators, accountants, consultants and lawyers
 

 

  • Differentiate the draft CECL model from the existing impairment model
  • Begin to assess the impact the draft guidance may have on an entity's financial statements and disclosures
  • Understand operational considerations financial institutions will face when implementing this guidance should it become part of the codification
 
Danielle Brogan -  Primatics Financial
Director
Sydney Garmong -  Crowe Horwath LLP
Partner
Raj Mehra -  Middleburg Financial Corp.
CFO
Nathan Stovall(Moderator) -  SNL Financial
Senior Reporter and NY Bureau Chief
Nathan Stovall is a senior reporter and the New York Bureau Chief for SNL. He has covered the banking industry for ten years, writing about a wide range of topics, including banks' fundamentals and capital structures, regulation, trends in bank accounting, traditional M&A, failed bank deals and asset dispositions by banks. He is a graduate of Washington & Lee University, where he majored in business journalism.
  

FASB's Credit Loss Recognition Proposal - A Quick Look

Recorded   January 24, 2013
90 minutes
Free for All
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