- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Banks are asking Treasury to intervene on CECL and delay it, worried implementation will threaten financial stability in a future recession.
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Despite calls for delay or reconsideration of the pending new model for recognizing loan losses, entities are implementing as if nothing will change.
The long-awaited new accounting for credit losses, better known as CECL, is moving forward in 2019 unless someone takes definitive action to delay or alter it.
When the economy starts to sour, CECL will push it faster and further in that direction, say banks calling for a delay and study of the new loan loss rules.
