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The CECL Model: Accounting Changes Coming for Banks

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Originally published as part of the "On the Economy Blog". This post is part of a blog series titled “Supervising Our Nation’s Financial Institutions."

We are more than a decade removed from the financial crisis—a time when many factors converged to threaten the viability of our financial system. Since then, numerous reforms have been implemented. Today, our banking system is substantially stronger and more resilient.1 

Financial regulators have introduced many of those reforms. But other groups have acted as well, including the accounting community through the Financial Accounting Standards Board (FASB). The FASB has recognized the need for change in how firms account for losses in assets held at amortized cost on the balance sheet. The result is a new accounting standard: the current expected credit loss (CECL) model.

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Beyond Bitcoin: A Look at Distributed Ledger Technology (Blog)

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Originally published as part of the "On the Economy Blog". This post is part of a blog series titled “Supervising Our Nation’s Financial Institutions."

This blog post is the fifth and final in a series about fintech and how it is affecting the banking industry. Last month, we looked at how digital, or mobile, wallets work. This month, we examine distributed ledger technology.

It has been a decade since the digital currency called Bitcoin was introduced. At the time, the concept of a virtual medium of exchange was largely unknown—and even frightening—to many in the general public.

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Fintech: How Digital Wallets Work (Blog)

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This blog post is the fourth in a series about fintech and how it is affecting the banking industry. Last month, we looked at technology-enabled lending, or marketplace lending. This month, we examine digital wallets.

New payment options made possible by financial technology are changing the way we transact with friends, family and businesses. Digital wallets—called mobile wallets when associated with a cell phone—allow purchases and money transfers without the physical use of cash, checks or credit/debit cards.

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Fintech: How Technology Is Changing Consumer and Small Business Lending (Blog)

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Originally published as part of the "On the Economy Blog". This post is part of a blog series titled “Supervising Our Nation’s Financial Institutions."

This blog post, written by Julie Stackhouse, executive vice president of the St. Louis Fed's Supervision division, is the third in a series about fintech and how it is affecting the banking industry. This post examines technology-enabled lending, also known as marketplace lending, and how it has branched far beyond its initial beginnings as person-to-person (P2P) lending.

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Fintech: Understanding AI Use in Financial Services (Blog)

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Originally published as part of the "On the Economy Blog". This post is part of a blog series titled “Supervising Our Nation’s Financial Institutions."

This blog post, written by Julie Stackhouse, executive vice president of the St. Louis Fed's Supervision division, is the second in a series about fintech and how it is affecting the banking industry. In this post, Stackhouse discusses how artificial intelligence, along with machine learning and natural language processing, are being increasingly used by banks and nonbanks.

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