FASB Issues Standard on Recognition of Credit Losses

A final Financial Instruments – Credit Losses Standard issued by the Financial Accounting Standards Board (FASB) on June 16 will require more timely recognition of credit losses associated with financial assets.

The scope of the standard is asset based and will be of particular interest to Mortgage REITs.

The new standard reflects some of the recommendations made by NAREIT in a 2013 submission to the board.

(Contact: Chris Drula at cdrula@nareit.com)

 

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