GAAP Update: New Lease Standards will Affect Banks
Reading Time: 2 minutesUnderstanding the Impact on Balance Sheets & Borrowers You’ve probably already heard that FASB has updated the new lease standards, but what does the new standard mean for a bank? The effective date for non-public entities is December 15, 2019 (i.e., January 1, 2020). Early adoption is permitted. Banks will …