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Credit unions will have the opportunity to review recent updates and implementation requirements for the Financial Accounting Standards Board’s (FASB) current expected credit loss (CECL) standard.

The webinar is slated to begin at 2 p.m. Eastern; registration is required.

The webinar, CECL UPDATE — The Time is Now, will focus on the condensed timeline and current information related to CECL method, auditor and examiner expectations and updated timeline of implementation. Participants will also have the chance to identity options for calculating the allowance for loan losses (ALL).

NAFCU has devoted considerable time and resources to educate credit unions on CECL requirements, and to share the industry's concerns with FASB. The association has also shared concerns with lawmakers, the NCUA and Federal Reserve, and has worked to obtain certain changes and more guidance on the standard. Last week, NAFCU Senior Counsel for Research and Policy Andrew Morris attended a roundtable discussion that covered a proposal outlining an alternative to the income statement impact of the CECL standard put forward by a group of banks along with the FASB's consideration of charge-offs and recoveries and other transition issues.

Register for today's webinar here.