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US banks' 2020 credit-loss accounting standard had intended effect during pandemic, study says

By Neil Roland
  • 04 Jan 2022 13:23
  • 04 Jan 2022 13:23
A US accounting standard that went into effect for most banks just before the pandemic worked as intended, resulting in higher allowances set aside early on for estimated credit losses and then a steady stream of allowances later, a Federal Reserve study said.
“[Current Expected Credit Losses] adopters’ loan-loss provisioning

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Neil Roland

Senior Correspondent

Neil has covered U.S. financial regulation for over two decades, mostly for Bloomberg and Crain Communications. He received a Loeb award for coverage of regulators' response to the collapse of Enron. He also garnered a SABEW award and some Jesse H. Neal awards for stories on the Federal Reserve's response to the 2008 financial crisis. Roland has appeared as a commentator on Fox TV, NPR, C-Span and Bloomberg TV. He received a Master's degree in public policy from Harvard and a Bachelors degree in economics from Cornell.

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