CECL could force Capital One’s loss reserves up 40%

- By Abdool Fawzee Bhollah and Louie Woodall
- 25 Oct 2019

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Capital One projects its credit loss reserves will have to increase by up to $3 billion once new accounting standards take effect in 2020.

Allowances for loan and lease losses for Q3 2019 at the US bank hit $7 billion, compared with $7.1 billion in Q2 and $7.2 billion in the year-ago quarter. Its current ratio of allowances to outstanding loans is 2.82%.

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