{"data":{"id":"us/12-cfr-702.702","jurisdiction":"us","citation":"12 CFR 702.702","heading":"Definitions.","body":"In addition to the definitions set forth in § 702.2, the following definitions apply to this subpart:\nCECL transitional amount means the decrease of a credit union's retained earnings resulting from its adoption of CECL, as determined pursuant to § 702.703(b).\nCurrent Expected Credit Losses (CECL) means the current expected credit losses methodology under GAAP.\nTransition period means the 12-quarter reporting period beginning the first day of the fiscal year in which the credit union adopts CECL.","path":["Title 12—Banks and Banking","CHAPTER VII—NATIONAL CREDIT UNION ADMINISTRATION","SUBCHAPTER A—REGULATIONS AFFECTING CREDIT UNIONS","PART 702—CAPITAL ADEQUACY","Subpart G—CECL Transition Provisions"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"416d7b2f0a52dce635a6dc2e33a345e8e508af42b06c05c51a505455ffe1642f","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-702.701","next":"us/12-cfr-702.703"},"notice":"GroundRules: Original legal text. Not legal advice."}