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Gain confidence with BerryDunn
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ASU 2017-12 provides added flexibility to hedge accounting
Interest rate swaps, a form of derivative, are a tool financial institutions can use to manage interest rate risk. In our review of ASU 2017-12, we discuss different approaches to swaps, types of hedge accounting, and how the new guidance may impact and/or provide additional opportunity for your financial institution.
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Recently issued accounting pronouncements
As part of our continuous efforts to stay current on the latest Financial Accounting Standards Board (FASB) pronouncements, we offer this resource to keep you up to date. Here is the latest.
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FDIC Issues its Second Quarter 2021 Quarterly Banking Profile
The Federal Deposit Insurance Corporation (FDIC) recently issued its second quarter 2021 Quarterly Banking Profile. The report contains a section specific to community bank performance. In second quarter 2021, this section included the financial information of 4,490 FDIC-insured community banks. Here are some of our key takeaways from the community bank section of the report.
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New lease accounting guide now available
Our newly updated guide, which includes changes from both FASB and GASB, is now available for download. For entities that have not yet adopted the guidance from FASB ASC 842, it is effective for reporting periods beginning after December 15, 2021. For entities subject to GASB Statement 87, the standard is effective for reporting periods beginning after June 15, 2021.
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Resources from the 2021 What’s New in New England Banking seminar
Our annual banking seminar with STIFEL was held on November 16. If you weren't able to join us, or did make it and wanted access to our resources, they are now available. Topics included: Balance sheet management strategies, the New England economic climate, upcoming tax changes (including opportunities in renewable energy credits), and lessons learned from implementing CECL.
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The Federal Reserve's FedLine® Solutions Security and Resiliency Assurance Program
In response to an evolving security threat landscape, the Federal Reserve Bank has implemented a Security and Resiliency Assurance Program (“Assurance Program”). Financial institutions that use FedLine® Solutions will need to take action before year-end to comply with Assurance Program requirements. Here’s what you need to know.
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BerryDunn audience survey: Help us serve you better!
As we strive to deliver valuable information and engagement opportunities, our goal is to ensure our communications and events are as effective and helpful to you as possible. Can you spare a few minutes to help us create a better experience for you moving forward? When you complete our five-minute survey you can enter to win a Bose Bluetooth speaker!
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Have questions?
Contact our financial services team
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