Summary
This 8-K filing from Truist Financial Corp. (TFC), filed on December 10, 2018, primarily discloses information related to a presentation given by Cynthia B. Powell, Executive Vice President and Corporate Controller of BB&T Corporation (which would later merge to form Truist), at the Barclays CECE Seminar. The presentation focuses on the lender's perspective on the implementation of the Current Expected Credit Losses (CECL) accounting standard. Investors should note that this filing does not contain new material financial results or significant corporate events beyond the disclosure of this presentation.
Key Highlights
- 1Disclosure of a presentation by BB&T Corporation's EVP and Corporate Controller, Cynthia B. Powell, at the Barclays CECL Seminar.
- 2The presentation's subject matter is the lender's perspective on the implementation of the Current Expected Credit Losses (CECL) accounting standard.
- 3The presentation slides are attached as Exhibit 99.1 to this 8-K filing.
- 4This filing is for Regulation FD disclosure purposes.
- 5Information provided, including exhibits, is not considered 'filed' for Section 18 of the Securities Exchange Act of 1934, nor incorporated by reference into other SEC filings.
- 6The event date for this disclosure was December 9, 2018.
Frequently Asked Questions
The main purpose of this 8-K filing is to disclose a presentation made by BB&T Corporation's executive regarding the implementation of the Current Expected Credit Losses (CECL) accounting standard. This is done to comply with Regulation FD and ensure public dissemination of material information.
No, this filing does not contain new financial results. It exclusively relates to the disclosure of a presentation about accounting standards implementation.
The Current Expected Credit Losses (CECL) is an accounting standard that requires financial institutions to estimate and reserve for potential credit losses on financial assets over their entire expected life, rather than waiting for a loss to be probable or incurred.
No, the filing explicitly states that the information provided pursuant to Item 7.01, including the attached exhibit, shall not be deemed to be 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934.