Electronic Feedback Form
Proposed Accounting Standards Update, Codification Improvements to Topic 326, Financial Instruments—Credit Losses
Comment Deadline: July 29, 2019The FASB invites comments on the Proposed Accounting Standards Update, Codification Improvements to Topic 326, Financial Instruments—Credit Losses. A link to the proposed Update is provided below. Respondents are requested to read the entire document before providing their comments. The proposed Update provides a summary of the proposed guidance and the basis for the FASB’s conclusions.
The amendments in this proposed Update clarify or address stakeholders’ specific issues about certain aspects of the amendments in Update 2016-13 as described below:
Issue 1: Negative Allowances for Purchased Financial Assets with Credit Deterioration
Issue 2: Transition Relief for Troubled Debt Restructurings
Issue 3: Disclosures Related to Accrued Interest Receivables
Issue 4: Financial Assets Secured by Collateral Maintenance Provisions
Issue 5: Conforming Amendment to Subtopic 805-20
Comments are requested from both those who agree with the proposed guidance and those who do not agree. Comments are most helpful if they identify and clearly explain the issue or question to which they relate. Those who disagree with a proposal are asked to describe their suggested alternative(s), supported by specific reasoning. All comments received constitute part of the FASB’s public file. The FASB will make all comments publicly available by posting them to the Online Public Reference Room portion of its website.
Download the Proposed Accounting Standards Update on Codification Improvements to Topic 326, Financial Instruments—Credit Losses.
Interested parties may also provide their comments in the form of a written letter by submitting their comments via email to firstname.lastname@example.org, File Reference No. 2019-710 or by sending them to “Technical Director, File Reference No. 2019-710, FASB, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116.” Do not send responses by fax. All responses from those wishing to comment on the Exposure Draft must be received by July 29, 2019.
This form includes all of the questions that are in the proposed Update. Questions requiring responses are denoted by a red asterisk (*).
If you would like to return to the form at a later time to complete or revise your responses, click the "Save" button to retain your responses. After clicking the "Save" button, you will be presented with a link that you should keep and use to return to your form at a later time. The feedback form can be saved only after the required respondent information section is completed.
Click the "Submit" button to send your comments to the FASB so that they may be added to the public record (i.e. made available on the FASB website).
If you have any questions on this feedback form or the proposed Update, please contact Jay Shah at email@example.com.