FASB's new Current Expected Credit Loss (CECL) accounting standard provides a considerable amount of flexibility in implementation, which makes it difficult for lenders to assess the options available and potential impact and trade-offs. Furthermore, lenders must be able to defend their implementation approach to validators, auditors, and examiners. With a rule like this looming over and threatening your bottom line, that choice is significant, and it's vital to start your planning immediately.
NAFCU, along with Allied Solutions and OnApproach, has teamed up with renowned data scientists at Deep Future Analytics to test a series of 5 models for implementing the new loan loss rules based on real data. The results of this study quantify the pros and cons of the models, and will help you determine the best course of action for your credit union's CECL implementation.
Use this study to gain data-driven insight on how to build your roadmap to implementation, reach an effective decision, and ultimately better defend your chosen model.
Download the Executive Summary and fill out the form below to get the full CECL Study.
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