12 C.F.R. § 702.702
Current through September 30, 2024
In addition to the definitions set forth in § 702.2 , the following definitions apply to this subpart:
CECL transitional amount means the decrease of a credit union's retained earnings resulting from its adoption of CECL, as determined pursuant to § 702.703(b) .
Current Expected Credit Losses (CECL) means the current expected credit losses methodology under GAAP.
Transition period means the 12-quarter reporting period beginning the first day of the fiscal year in which the credit union adopts CECL.
12 C.F.R. §702.702