,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #gcid  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,decemb] #ba1         
#bjah,mr4 ,luetkemey] 7= himself & ,mr4 
,budd7 introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,f9ancial     
,s]vices1 & 9 addition to ! ,committee  
on ,agriculture1 = a p]iod to be        
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to prohibit !      
,f$]al f9ancial regulators f requir+    
compliance ) ! acc\nt+ /&>ds update ( ! 
,f9ancial ,acc\nt+ ,/&>ds ,bo>d relat$  
to curr5t expect$ cr$it loss 7,,cecl71  
to require ! ,securities & ,ex*ange     
,commission to take c]ta9 impacts ( a   
propos$ acc\nt+ pr9ciple into           
consid]ation be=e accept+ ! pr9ciple1 & 
= o!r purposes4  #a4 ,non-application ( 
! ,,cecl ,rule by ,f$]al f9ancial       
regulators  7a7 ,9 g5]al ,not)/&+ any   
o!r provision ( law1 a ,f$]al f9ancial  
regulator may n require any p]son to    

comply ) ! ,,cecl ,rule "u any ,f$]al   
/atute or rule4  7b7 ,def9itions ,9 ?is 
section3 7#a7 ,,cecl ,rule ,! t]m ,,cecl
 ,rule means ! acc\nt+ /&>d conta9$ 9 ! 
,acc\nt+ ,/&>ds ,update ,no4 #bjaf-ac ( 
! ,f9ancial ,acc\nt+ ,/&>ds ,bo>d1 titl$
 ,f9ancial ,in/rum5ts-,cr$it ,losses    
7,topic #cbf73 ,measurem5t ( ,cr$it     
,losses on ,f9ancial ,in/rum5ts issu$   
,june #bjaf4  7#b7 ,f$]al f9ancial      
regulator ,! t]m ,f$]al f9ancial        
regulator means ! ,dep>tm5t ( !         
,treasury1 ! ,bo>d ( ,gov]nors ( !      
,f$]al ,res]ve ,sy/em1 ! ,(fice ( !     
,comptroll] ( ! ,curr5cy1 ! ,(fice (    
,?rift ,sup]vision1 ! ,securities &     
,ex*ange ,commission1 ! ,commodity      
,futures ,trad+ ,commission1 ! ,f$]al   
,deposit ,insurance ,corporation1 !     
,f$]al ,h\s+ ,f9ance ,ag5cy1 & !        
,national ,cr$it ,union ,adm9i/ration4  
#b4 ,,sec consid]ations :5 recogniz+    
acc\nt+ pr9ciples ,section #ai7;b7 ( !  
,securities ,act ( #aicc 7#ae ,u4,s4,c4 
#ggs7b77 is am5d$ by add+ at ! end !    

foll[+3  7#c7 ,consid]ation ,!          
,commission may n1 aft] ! date (        
enactm5t ( ?is p>agraph1 recognize any  
acc\nt+ pr9ciple z g5]ally accept$ "u   
p>agraph 7#a7 unless ! ,commission fir/ 
takes into consid]ation ! acc\nt+       
pr9ciple's impact on ! broad] ,unit$    
,/ates economy1 m>ket /ability1 &       
availability ( cr$it 7p>ticul>ly = small
 bus9esses & l[- & mod]ate-income       
borr[]s74  4