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NCUA | RIN: 3133-AF03 | Publication ID: Spring 2021 |
Title: Transition to the Current Expected Credit Loss (CECL) Methodology | |
Abstract:
The NCUA Board issued a proposed 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 proposed rule would temporarily mitigate the adverse consequences of the day-one capital adjustments required by CECL. The Board is reviewing public comments received on the proposed rule in anticipation of a potential final rule to adopt these changes. |
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Agency: National Credit Union Administration(NCUA) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
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 |
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Timetable:
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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-and-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 |