§ 702.702 Definitions.
Current through Oct 1, 2026 · Read all of Part 702
In addition to the definitions set forth in § 702.2, the following definitions apply to this subpart:
CECL transitional amount means the decrease of a credit union's retained earnings resulting from its adoption of CECL, as determined pursuant to § 702.703(b).
Current Expected Credit Losses (CECL) means the current expected credit losses methodology under GAAP.
Transition period means the 12-quarter reporting period beginning the first day of the fiscal year in which the credit union adopts CECL.