New Accounting Framework Faces Its First Test: CECL During the Pandemic
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.
Part of Series: FEDS Notes
Publication Date: 2021-12-03