On June 16th, the FASB issued the final Accounting Standards Update commonly known as the current expected credit loss (CECL) model.
It is important for financial institutions to understand what is required by the guidance and to plan what their organization should be doing now to prepare for the transition.
Sageworks compiled a complimentary toolkit that aggregates industry resources to help you better prepare for the CECL accounting change.
Sageworks helps financial institutions grow the portfolio and mitigate portfolio risk through expert consulting and a suite of credit risk and ALLL solutions. Sageworks ALLL gives banks and credit unions a consistent and defensible allowance for loan and lease losses methodology proven to satisfy auditors, examiners and the board. More institutions rely on Sageworks for the ALLL than any other solution and spend up to 80% less time on their calculation - Learn how.