CARES Act Section 4014 Technical Corrections Act

Summary

CARES Act Section 4014 Technical Corrections Act This bill modifies the delay for required compliance with certain accounting standards applicable to credit losses (i.e., current expected credit losses standards, also known as CECL standards) as applied to insured depository institutions and bank holding companies. Specifically, required compliance with this standard is delayed through the first day of an institution's fiscal year beginning after the end of the emergency declaration regarding the COVID-19 (i.e., coronavirus disease 2019) outbreak. Currently, this delay ends the earlier of the date on which the emergency declaration terminates, or December 31, 2020.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 April 2020

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• Introduced in House (PDF)

  Introduced in House · EN · 17 April 2020

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• Introduced in House

  summary · EN · 17 April 2020

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