Financial Reporting and Analysis, Virtual Events & Programming

(Webinar)The Current Expected Credit Loss Standard: What an Investor Needs to Know

Wednesday, May 20 | 10:00 AM - 11:30 AM

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Overview

FASB’s Current Expected Credit Loss (CECL) standard was adopted by large public-filing banks and other financial institutions on January 1, 2020. Smaller public filers and non-public filers have until 2023 to implement CECL. Given the recent rapid downturn in the global economy, this may be the most impactful financial reporting change implemented in decades. In addition to “Day 1” effects from the standard’s January 1, 2020 adoption, institutions needed to incorporate the Q1 2020 events in their Q1 current expected credit losses. This program is part 1 of a two program series.  On June 25, 2020 we will be having a second program reviewing actual reported Q1 2020 CECL results and their impact.

Agenda

10:00 AM | WELCOMING REMARKS

Arthur Fliegelman, CFA, Chair, Financial Reporting & Analysis Group, CFA Society of New York


10:05 AM | PANEL DISCUSSION

Moderator

Ethan Heisler, CFA, Senior Bank Analyst, Kroll Bond Rating Agency, Inc.

Panelists

Linda Bergen, CPA, MBA, Director of Corporate Accounting Policy, Citigroup

Michael L. Gullette, Senior Vice President, American Bankers Association

Maria Mazilu, Vice President, Senior Accounting Analyst, Financial Institutions Group – Moody’s Investors Service


11:00 AM |  Q&A


11:15 AM | CLOSING REMARKS

Arthur Fliegelman, CFA, Chair, Financial Reporting & Analysis Group, CFA Society of New York


11:30 AM | ADJOURNMENT

Additional Details

Learning Outcomes

  • Why did FASB decide to change accounting for credit impairment, and what is CECL’s connection with the Great Financial Crisis?
  • How different is the CECL reporting model from the old incurred loss method model? Does CECL improve transparency around an institution’s ability to predict loss compared to the incurred loss method?
  • What is the impact of the CARES Act and the regulatory phased implementation for regulatory capital on CECL’s impact on bank activity?
  • Will CECL change the dynamics of the financial system?
  • Will there be shifting of certain types of lending outside of regulated banks?