Current Expected Credit Loss (CECL) Solutions
Current Expected Credit Loss (CECL) is a fundamental change to how financial institutions (FIs) will determine their loan loss reserve requirements. The change will require FIs to reserve for loans upon inception and adjust reserves monthly based on performance data, coming from their loan systems and economic data coming from a forecast of various q-factors. This fundamental change will occur over the next several years.
Regulators, auditors, and industry professionals urge FIs to begin the CECL model planning and vendor selection process well in advance of the compliance deadline to ensure you allocate adequate time for this significant change. To assist you in this process, we have built a CECL Timeline Generator that you can use to establish an appropriate timeline to meet compliance dates.
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