The Clearing House submitted a comment letter to the Financial Accounting Standards Board supporting their April 29 proposed accounting standards update which would defer the effective date of the Revenue Recognition Standard from December 15, 2016 to December 15, 2017. TCH’s letter is supportive of this delay in light of pending standard-setting activity and ongoing industry discussion about how to interpret the new standard. The letter also urges the International Accounting Standards Board to proceed with a similar proposal to defer the effective date of IFRS 15, Revenue from Contracts with Customers.
You Might Also Be Interested In...
Regulatory Reporting and Accounting
BPI Submits Comment Letter to Banking Agencies on Revisions to Call Report
Bank Capital and Stress Testing
Some Thoughts on the Bank Regulatory Picture: Dividends, CECL, Buffers and the Rest
Regulatory Reporting and Accounting
BPI Submits Comment Letter to Agencies on Call Report and FFIEC 101 Reporting Revisions
Regulatory Reporting and Accounting
BPI Submits Comment Letter to the Fed on Proposed FR Y-9 Reporting Revisions
More Posts by This Author