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Email On March 27, 2020, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (collectively, the “Agencies”) issued an interim final rule that allows banking organizations to mitigate the effects of the “current expected credit loss” (“CECL”) accounting standard in their regulatory capital. https://www.cadwalader.com/resources/clients-friends-memos/covid-19-update-banking-agencies-delay-cecl-capital-impacts