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
Masha Muzyka
CECL, IFRS 9, and IFRS 17 expert; credit risk and insurance risk specialist; strategic planning and credit analytics solutions consultant
Anna Krayn
CECL adoption expert; engagement manager for loss estimation, internal risk capability enhancement, and counterparty credit risk management
Emil Lopez
Credit risk modeling advisor; IFRS 9 researcher; data quality and risk reporting manager
Previous Article
European Council Adopts Updated Rules on Clearing of OTC DerivativesRelated Articles
EBA Updates List of Validation Rules for Reporting by Banks
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA Responds to EC Call for Advice to Strengthen AML/CFT Framework
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS Advocates Environmental Risk Analysis for Financial Sector
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.
MAS Issues Guidelines to Promote Senior Management Accountability
MAS published the guidelines on individual accountability and conduct at financial institutions.
APRA Formalizes Capital Treatment and Reporting of COVID-19 Loans
APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.
SRB Chair Discusses Path to Harmonized Liquidation Regime for Banks
SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.
FSB Workshop Discusses Preliminary Findings of Too-Big-To-Fail Reforms
FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.
ECB Updates List of Supervised Entities in EU in September 2020
ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.
OSFI Identifies Focus Areas to Strengthen Third-Party Risk Management
OSFI published the key findings of a study on third-party risk management.
FSB Extends Implementation Timeline for Framework on SFTs
FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.
