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Overview
Our publication analyzes the third-quarter disclosures in SEC filings for a sample of 100 companies (mostly banks) that have adopted the new credit impairment guidance in ASC 326. The companies in our sample made more disclosures related to COVID-19 loan modifications and more disclosures about macroeconomic inputs than they did in their filings for the first-quarter of 2020. We expect disclosures to continue to evolve as the needs of users and the views of regulators become clearer. This publication updates our Review of the first wave of credit impairment disclosures under the new standard that we issued in June 2020.