Allowance Process Experience Under CECL

November 2, 2018
CECL, or Current Expected Credit Loss, is a new accounting standard that will change how financial institutions account for expected credit losses and is scheduled to go in effect at the start of 2020 for SEC registered institutions. In this clip from a recent webinar, Cris deRitis, Senior Director, Consumer Credit Analytics at Moody's Analytics explains a simple six-step process for preparing for CECL, which starts with data management and ends with reporting and audit trails. Financial institutions should consider a similar checklist to help prepare for CECL implementation.
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