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NCUA RIN: 3133-AF03 Publication ID: Fall 2021 
Title: Transition to the Current Expected Credit Loss (CECL) Methodology 
Abstract:

The NCUA Board issued a final rule to address the implementation by federally insured credit unions to the new current expected credit losses (CECL) methodology required under U.S. generally accepted accounting principles.  Consistent with regulations issued by the federal banking agencies, the final rule will temporarily mitigate the adverse consequences of the day-one capital adjustments required by CECL.

 
Agency: National Credit Union Administration(NCUA)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 702   
Legal Authority: 12 U.S.C. 1766(a)    12 U.S.C. 1784(a)    12 U.S.C. 1786(e)    12 U.S.C. 1790d   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  08/19/2020  85 FR 50963   
NPRM Comment Period End  10/19/2020 
Final Action  07/01/2021  86 FR 34924   
Final Action Effective  08/02/2021 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: https://www.ncua.gov/regulation-supervision/rules-regulations/proposed-pending-recently-final-regulations  
RIN Data Printed in the FR: No 
Agency Contact:
Ariel Pereira
Senior Staff Attorney
National Credit Union Administration
1775 Duke Street,
Alexandria, VA 22314
Phone:703 548-2778
Fax:703 518-6569
Email: apereira@ncua.gov