New Accounting Framework Faces Its First Test: CECL During the Pandemic

Bert Loudis, Sasha Pechenik, Ben Ranish, Cindy M. Vojtech and Helen Xu
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Ben Ranish: https://www.federalreserve.gov/econres/ben-ranish.htm
Cindy M. Vojtech: https://www.federalreserve.gov/econres/cindy-m-vojtech.htm

No 2021-12-03-1, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: On January 1, 2020, most large and mid-sized U.S. banks adopted Current Expected Credit Losses (CECL), a new accounting standard for estimating allowances. Allowance for credit losses is an estimate of the amount that a bank is unlikely to recover from a financial asset.

Date: 2021-12-03
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2021-12-03-1

DOI: 10.17016/2380-7172.3025

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