FASB issues amendments to CECL (US2019-21)
The FASB has issued amendments to clarify, correct, or improve the new credit losses standard. The amendments include:
- New guidance related to expected recoveries for purchased financial assets with credit deterioration,
- Transition relief relating to troubled debt restructurings,
- Additional disclosure relief related to accrued interest, and
- Clarification related to the application of the practical expedient for financial assets secured by collateral maintenance provisions.
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