FASB Publishes Summary of Investor Advisory Committee Meeting
FASB published a summary of the Investor Advisory Committee meeting, which was held on May 14, 2019. The meeting included discussion on the Leases standard (Topic 842) and the Credit Losses standard (Topic 326).
As part of the discussion on the emerging issues and trends, the Committee members discussed their observations on implementation of the leasing standard (Topic 842, Leases). Consistent with the discussions during prior Investor Advisory Committee meetings, members reiterated the recommendation for additional transparency of information on a geographical basis. With respect to Topic 326 on credit losses, members discussed the FASB decision to not require disclosure of gross write-offs and gross recoveries by vintage. Members indicated that they anticipated receiving this type of vintage information as part of the credit losses standard (Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses). Members also confirmed that gross write-offs and gross recoveries by vintage would be useful in their analyses. The next meeting of the Committee will be held on November 12, 2019.
Related Link: Meeting Update
Keywords: Americas, US, Banking, Leases Standard, Credit Losses Standard, Topic 842, Topic 326, IFRS 9, IFRS 16, Investor Advisory Committee, FASB
Featured Experts
Metin Epözdemir
Metin Epözdemir helps European and African banks with design and implementation of credit risk, stress testing, capital management, and credit loss accounting solutions.
Masha Muzyka
CECL, IFRS 9, and IFRS 17 expert; credit risk and insurance risk specialist; strategic planning and credit analytics solutions consultant
Jacob Grotta
Risk-measurement and structured-finance expert; experienced financial data analytics executive
Previous Article
European Council Adopts Updated Rules on Clearing of OTC DerivativesRelated Articles
BIS Examines Use of Big Data and Machine Learning at Central Banks
BIS published a paper that provides an overview on the use of big data and machine learning in the central bank community.
APRA Finalizes Reporting Standard for Operational Risk Requirements
APRA finalized the reporting standard ARS 115.0 on capital adequacy with respect to the standardized measurement approach to operational risk for authorized deposit-taking institutions in Australia.
ECB Publishes Guide for Determining Penalties for Regulatory Breaches
ECB published a guide that outlines the principles and methods for calculating the penalties for regulatory breaches of prudential requirements by banks.
MAS Sets Out Good Practices to Manage Operational Risks Amid COVID
MAS and The Association of Banks in Singapore (ABS) jointly issued a paper that sets out good practices for the management of operational and other risks stemming from new work arrangements adopted by financial institutions amid the COVID-19 pandemic.
ACPR Announces New Data Collection Application for Banks and Insurers
ACPR announced that a new data collection application, called DLPP (Datalake for Prudential), for collecting banking and insurance prudential data will go into production on April 12, 2021.
BCB Maintains CCyB at 0%, Initiates First Cycle of Regulatory Sandbox
BCB announced that the Financial Stability Committee decided to maintain the countercyclical capital buffer (CCyB) for Brazil at 0%, at least until the end of 2021.
EIOPA Launches Study on Non-Life Underwriting Risk in Internal Models
EIOPA has launched a European-wide comparative study on non-life underwriting risk in internal models, also kicking-off of the data collection phase.
SRB Publishes Overview of Resolution Tools Available in Banking Union
SRB published an overview of the resolution tools available in the Banking Union and their impact on a bank’s ability to maintain continuity of access to financial market infrastructure services in resolution.
EBA Consults on Pillar 3 Disclosure Standards for ESG Risks Under CRR
EBA is consulting on the implementing technical standards for Pillar 3 disclosures on environmental, social, and governance (ESG) risks, as set out in requirements under Article 449a of the Capital Requirements Regulation (CRR).
ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting
ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting
