The Clearing House Association submitted an unsolicited comment letter to the FASB in advance of the February 11 FASB Board meeting at which they would be redeliberating their ‘Financial Instruments – Credit Losses’ proposal and potentially expanding current disclosure requirements by requiring additional tables that would require entities to track financial assets by date of origination (i.e., vintage disclosures). The TCH letter urged FASB to consider alternatives to this approach, such as enhancing existing credit quality disclosures including, where appropriate, requiring additional disclosures of certain higher risk loan portfolios. At the February 11 Board meeting, the Board decided to proceed with expanded disclosures without an exposure draft by requiring balances to be disaggregated based on originations, but did indicate they will be performing extended outreach about vintage disclosures.
You Might Also Be Interested In...
Regulatory Reporting and Accounting BPI Response to FDIC Resolution Plans Required for Insured Depository Institutions With $100 Billion or More in Total Assets
Regulatory Reporting and Accounting BPI Recommends Call Report Changes to Address Troubled Debt Restructuring
Cybersecurity Redundant Reporting Stresses Banks’ Cybersecurity Readiness, Warrants White House Review
Cybersecurity BPI and ABA Recommend Office of the National Cyber Director Harmonize Cyber Regulations
Regulatory Reporting and Accounting BPI and Coalition of Trades Oppose PCAOB’s Proposed Changes to Auditing Standards
More Posts by This Author
Basel Finalization The Empire Strikes Back: How the Basel Proposal Would Shift Credit Allocation from the Private Sector to the Government
Consumer Affairs Banks Support National Strategy to Identify Opportunities and Barriers to Financial Inclusion
Bank Liquidity BPI Statement for the Record for House Hearing on the Fed Discount Window and Emergency Lending