12 CFR 702.702
§ 702.702 Definitions.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 702.702, § 702.702 Definitions, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/48425
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Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.