TALES FROM THE FRONTLINE OF CECL IMPLEMENTATION – PART 1
LEARNING LESSONS FROM CECL IMPLEMENTATIONS INTRODUCTION CECL is now a reality for all banks and credit unions in the United States. Whether those institutions are designing, building, or testing ECL systems or deciding between competing third-party providers, the January 1 deadline looms large. Most accounting standards apply equally to banks and credit unions, both in […]
Q-FACTORS – THE SECRET SAUCE FOR EVERY US INSTITUTION
Q FACTORS UNDER CECL Most financial institutions in the U.S. were left wondering about the fate of their qualitative factors, also known as Q factors, under the Current Expected Credit Losses (CECL) standard when it was issued by the Financial Accounting Standards Board (FASB) in 2016. Bankers, faced with a 2023 CECL implementation date, wonder […]
