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Boards Propose New Accounting Model for ‘Expected’ Loan Losses

Two entities charged with setting accounting standards for financial instruments have released a proposal that would require lenders to account for anticipated losses on loans earlier, in what is being described as a fundamental shift from current practices. The International Accounting Standards Board (IASB) and the U.S. Financial Accounting Standards Board (FASB) have published a joint proposal that entails moving to an 'expected loss model' from the current 'incurred loss model.'

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