On Tuesday, March 31, SFA signed onto a joint letter to the Securities and Exchange Commission urging the SEC to set and enforce equal implementation timeframes on accounting standards and capital treatment across all financial institutions. The letter comes after banking regulators also issued an interim final rule allowing that certain banks and their holding companies may obtain reporting relief from the CECL standards for an interim period. SFA submitted a similar letter to the Financial Standards Accounting Board on March 25.

Read our letter here.