Sohini Chowdhury, Ph.D., director and senior economist at Moody's Analytics, will be the featured speaker during a May 19 World Council of Credit Unions' webinar: Global Economic Impact of COVID-19 on Credit Unions and Related Accounting Issues.

Chowdhury will join World Council President and CEO Brian Branch and World Council Senior Vice President of Advocacy Andrew Price to address the global economic impact of the COVID-19 pandemic on credit unions.

Our experts will also discuss the accounting concerns arising from the pandemic, especially in light of the relief measures issued by international standard setting bodies such as the Basel Committee on Banking Supervision and the IASB. This webinar will be valuable for credit union executives coping with the COVID-19 pandemic and planning for the impact on their balance sheets.

Topics will include:

• An overview of the economic impacts of the pandemic for credit unions, both in the present and with the prospect of a global recession.
• A discussion of the impact on various accounting standards, such as the Expected Credit Losses included in IFRS 9/CECL.
• Guidance and regulatory relief adopted by the Basel Committee, the IASB and others as they relate to accounting principles and how this might relate to national-level requirements.

The goal of the webinar is to help industry professionals stay informed about the impact COVID-19 might have on their credit unions, while assisting them in making strategic planning decisions for their member institutions in the future. World Council hopes the information will help credit union trade associations assist their credit unions, and help credit unions better serve their members and communities.

This webinar will be held on Tuesday, May 19 at 10:00 a.m., U.S. Eastern Standard Time (EST). It is presented free of charge. You can register for the webinar here.