FASB Approves CECL Fair Value Option Change
Easing the transition to the current expected credit loss standard, or CECL, was the goal of a measure approved by the Financial Accounting Standards Board that provides entities the option to measure certain types of assets at fair value.
Streamlining the new fair value disclosure requirement
A new Financial Accounting Standards Board (FASB) disclosure requirement makes several material changes to U.S. generally accepted accounting principles (GAAP). New requirements for determining the fair value disclosure of financial institutions’ loan portfolios are among the revisions.