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The Financial Accounting Standards Board (FASB) voted to extend the deadline for small reporting companies to implement CECL. The banking industry applauded the move, but continues to advocate for the delay to apply to all companies. In anticipation of CECL’s implementation, the banking agencies issued a proposed joint policy statement.

For more information, please contact:
Michael P. Smith, President, NYBA, at (212) 297-1699
Clare M. Cusack, General Counsel, at (212) 297-1664
Megan Rowan McGovern, Deputy General Counsel & VP, Government Relations, at (212) 297-1669