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Precision Solutions for Risk Management
Over a year has passed since the latest issuance of the Financial Accounting Standard Board's (FASB) Current Expected Credit Loss (CECL) model. As a result of the changes, many banks and credit unions remain apprehensive about a potential 30-50% increase in reserve levels while wondering when final guidance will be issued. However, those who have interpreted the guidance are already preparing now to minimize the potential increase.
In this session Todd Sprang, principal at CliftonLarsonAllen and Ed Bayer, managing director at Sageworks, discuss ways to prepare for the impairment model that will be based on expected – not incurred – losses, the need for significantly higher amounts of granular data, and how using alternative methods to comply, like peer data, might result in added risk and subjectivity.
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