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	Podcast:		ABA Banking Journal Podcast
	Episode:		The Risks of Delaying CECL for Some Banks but Not Others
	Category:		Business
	Duration:		00:22:04
	Publish Date:		2019-09-25 10:50:21
	Description:		Since the ABA Banking Journal Podcast last checked in on the Current Expected Credit Loss standard — which is coming into effect for many banks and the vast majority of bank assets on Jan. 1, 2020 — there have been several key developments: the proposal of a three-year delay for private and smaller public companies, the introduction of bipartisan bills that would require the Financial Accounting Standards Board to pause CECL implementation pending a quantitative impact study and questions over the readiness of the audit sector for CECL. In this episode — sponsored by RIVIO Clearinghouse, the future of financial information exchange — ABA accounting experts Michael Gullette and Joshua Stein discuss: The potential competitive effects of an extended period where some banks are on CECL and others are not Concerns about the lack of readiness among auditors on CECL, which are heightened because the effective date is less than three months away The risk of CECL’s reliance on lagging indicators that amplify the standard’s procyclicality The chances of a CECL delay for all institutions, as ABA has urged CECL challenges they heard from community bank CFOs at ABA’s CFO Exchange earlier this month
	Total Play:		0