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The Financial Accounting Standards Board announced it will hold a public meeting on its accounting standard for the timely reporting of credit losses on Feb. 4 in Norwalk, Conn.

The board will stream audio for the meeting live. Those interested in attending the meeting, which is scheduled for 12:30 p.m. to 3:30 p.m. Eastern, must register online.

In November, the board announced that the accounting standard for the timely reporting of credit losses would take effect for fiscal years beginning after Dec. 15, 2019, for non-public entities such as credit unions.

FASB's proposed accounting standard would establish a "current expected credit loss" (CECL) model for the reporting of credit losses by financial institutions.

NAFCU has repeatedly expressed apprehension about the proposed standard. In August, NAFCU staff and credit union representatives received a briefing from FASB staff on the proposed standard and were given the opportunity to raise their concerns.

NAFCU staff will continue to monitor the issue and to raise credit unions' concerns to the board.