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FASB Offers Fair Value Option to Ease CECL Transition

 

The Financial Accounting Standards Board (FASB) is giving banks and other financial institutions some leeway in applying the new credit losses standard by offering them an option to measure some kinds of assets at fair value. FASB released an accounting standards update aimed at simplifying the transition to the credit losses standard, also known as CECL because it uses a current expected credit loss model. Read more at Accounting Today.