12 CFR §702.702

In addition to the definitions set forth in § 702.2, the following definitions apply to this subpart: CECL 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). Current Expected Credit Losses (CECL) means the current expected credit losses methodology under GAAP. Transition period means the 12-quarter reporting period beginning the first day of the fiscal year in which the credit union adopts CECL.