Financial Reporting and Analysis, Virtual Events & Programming

(Webinar)The Current Expected Credit Loss Standard: What an Investor Needs to Know

May 20, 2020 | 10:00 AM - 11:30 AM

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Overview

FASB’s Current Expected Credit Loss (CECL) standard was adopted by large public-filing banks and other financial institutions on January 1, 2020. Smaller public filers and non-public filers have until 2023 to implement CECL. Given the recent rapid downturn in the global economy, this may be the most impactful financial reporting change implemented in decades. In addition to “Day 1” effects from the standard’s January 1, 2020 adoption, institutions needed to incorporate the Q1 2020 events in their Q1 current expected credit losses. This program is part 1 of a two program series.  On June 25, 2020 we will be having a second program reviewing actual reported Q1 2020 CECL results and their impact.

Agenda

10:00 AM | WELCOMING REMARKS

Arthur Fliegelman, CFA, Chair, Financial Reporting & Analysis Group, CFA Society of New York

10:05 AM | PANEL DISCUSSION

Moderator

Ethan Heisler, CFA, Senior Bank Analyst, Kroll Bond Rating Agency, Inc.

Panelists

Linda Bergen, CPA, MBA, Director of Corporate Accounting Policy, Citigroup

Michael L. Gullette, Senior Vice President, American Bankers Association

Maria Mazilu, Vice President, Senior Accounting Analyst, Financial Institutions Group – Moody’s Investors Service

11:00 AM |  Q&A

11:15 AM | CLOSING REMARKS

Arthur Fliegelman, CFA, Chair, Financial Reporting & Analysis Group, CFA Society of New York

11:30 AM | ADJOURNMENT

Additional Details

Learning Outcomes

  • Why did FASB decide to change accounting for credit impairment, and what is CECL’s connection with the Great Financial Crisis?
  • How different is the CECL reporting model from the old incurred loss method model? Does CECL improve transparency around an institution’s ability to predict loss compared to the incurred loss method?
  • What is the impact of the CARES Act and the regulatory phased implementation for regulatory capital on CECL’s impact on bank activity?
  • Will CECL change the dynamics of the financial system?
  • Will there be shifting of certain types of lending outside of regulated banks?

Sponsorship Overview

For over 80 years, CFA Society New York—formerly known as New York Society of Security Analysts (NYSSA)—has been a leading forum for the exchange of information among investment professionals. Our mission is to raise standards of practice in the industry for the ultimate benefit of society. Towards that goal, CFA Society New York content is curated by volunteer practitioner interest groups that strive to shape the future of the industry. A bold line exists between the financial support by organizations to maintain the quality of our programming and the selection of speakers who contribute to dialogue in our community. To that end, a ceaseless commitment to transparency is something we consider foundational to our cause.

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Inclement weather

CFANY reserves the right to cancel or reschedule all in-person events within 48 hours when inclement weather has been forecasted and travel is restricted by city officials.  The program may also be produced solely via livestream in such circumstances.  Please note the cancellation policy regarding refunds and substitutions.

Refunds, Cancellations, and Substitutions

  • 72 HOURS ADVANCED NOTICE OR MORE:
    • Full refund issued
  • WITHIN 48 HOURS OR AFTER EVENT HAS STARTED:
    • No refund

All requests for cancellation or refunds must be sent to cfanyevents@cfany.org.

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CFA Society New York, Inc. (“CFA NY”) is not a Registered Investment Advisor, Broker/Dealer, Financial Analyst, Financial Bank, Securities Broker, or Financial Planner. While CFA NY seeks to present accurate and reliable information, CFA Society New York does not endorse, approve, or certify such information, nor does it warrant or guarantee the accuracy, completeness, efficacy, timeliness, or fitness of such information for any particular purpose. Information presented may or may not be current as of the date of the presentation, and CFA Society New York has no duty to update and maintain the information, reports, or statements made during events.

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