This workshop will cover new accounting and regulatory matters that impact the financial services industry and require reporting changes currently impacting the Call Report. The impact of the CARES Act and related regulatory interim and final rules resulting from the COVID-19 crisis will also be discussed.
A summary of the reporting impact and the implementation timelines for new Accounting Standards Updates (ASU) related to the following will be discussed:
- Reference Rate Reform under ASU 2020-05
- Equity Securities under ASU 2016-01
- Premiums on Callable Debt Securities under ASU 2017-08
- Lease Accounting under ASU 2016-02
- Credit Loss Accounting (CECL) under ASU 2016-13
- Revenue Recognition (to include recording gains on sales of OREO) under ASC Topic No 606 and 610
A discussion of regulatory changes impacting the 2021 Call Report will be covered in detail. As new regulatory matters arise, they will be added to the agenda in order to provide participants with the most current training applicable for the March 31, 2021 Call Report. Currently, regulatory topics covered in this webinar will include:
- Accounting and reporting Troubled Debt Restructurings to include the current status for reporting TDRs under Section 4013 of the CARES Act and the April 2020 Revised Statement issued by the Regulators.
- Risk weighting loans impacted by modifications made as a result of COVID-19.
- Schedule RC-R Part I and the CBLR framework as originally reported and the changes due to the CARES Act and COVID-19.
- Off-balance sheet exposures included in the calculation for eligibility under the CBLR framework.
- Revisions to the calculation for eligible retained earnings for non-CBLR electing institutions.
- Current status for reporting PPP loans and any associated borrowings.
- Participation in the MMLF borrowing program and the assets purchased as a result of a bank’s participation in the program.
- Line item impacts from the adoption of CECL and the calculations for amounts impacting the calculation of capital ratios to include risk weighting assets impacted under the CECL methodology.
- Changes to Regulation D and the reporting of transaction and non-transaction accounts.
- HVCRE definition revisions.
- Classification of HELOCs and reporting changes to open-end and closed-end lines of credit secured by 1-4 family residential properties.
- The simplification to the regulatory capital rules as provided by changes in the threshold deduction treatment for mortgage servicing assets, deferred taxes arising from temporary differences that cannot be realized through carrybacks, and investments in the capital of unconsolidated financial institutions.