In our latest report we take a close look at COVID-19 and its impact on global supply chains. Here’s a brief overview before you download the full report below:

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CECL’s January compliance deadline for larger US banks is fast approaching.  As everyone expected, the states of readiness vary widely among financial institutions. The CECL team leader at Citi, a charter member of FASB’s Transition Resource Group for Credit Losses, is on record as to how aggressive and committed and successful the bank was in its preparation and how unwelcoming it would be of any further delay or reconfiguration. But other banks continue to besiege their congressmen and the SEC in the vain hope that the cup will pass.

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Cutting through IPO noise and understanding the underlying financial health

shutterstock_370456712_smallThe appeal of category game-changers like Peloton, WeWork, Uber, and Lyft to consumers and investors is clear.  These companies have garnered lots of attention from investors and the public alike throughout their journeys to IPO, but with WeWork falling just short of the finish line and Peloton’s lackluster debut, the IPO market has taken pause. The turn to discipline from institutional investors, demanding more clarity on these big visionary companies’ underlying business models before throwing more cash at them, is a positive development, but signals broader implications for the rest of the private company market.

 

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The month of May is shaping up to be a notable one on the CECL front now that the 116th Congress has organized and is settling into its business.

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The Financial Accounting Standards Board (FASB) just took another important step in the runup to CECL implementation, scheduled for January 2020 for SEC registrants and later for others.

CECL watchers will recall that, amidst the crescendo of attacks on FASB in the second half of 2018 from banks, their national and state associations and Congressional Republicans, one of the most noteworthy events was the November release of a proposal by an alliance of 20 prominent US regional banks – “the Group.” (more…)

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