FASB issues amendments to CECL

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In depth , PwC US Dec 19, 2019

The FASB has issued new guidance on expected recoveries for PCD assets. We explain.

The FASB has issued amendments to clarify, correct, or improve the new credit losses standard. The amendments include:

  • New guidance related to expected recoveries for purchased financial assets with credit deterioration, 
  • Transition relief relating to troubled debt restructurings,
  • Additional disclosure relief related to accrued interest, and 
  • Clarification related to the application of the practical expedient for financial assets secured by collateral maintenance provisions.

 

For a deeper discussion, please contact:

Chip Currie

Partner, National Professional Services Group, PwC US

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Tom Barbieri

Partner, National Professional Services Group, PwC US

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Raymond Blum

Senior Manager, National Professional Services Group, PwC US

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David Schmid

David Schmid

International Accounting Leader, National Professional Services Group, PwC US

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