Guides

Building a Current Expected Credit Loss Response Program

Building a Current Expected Credit Loss Response Program

CECL, or current expected credit loss, is a new accounting standard that will change how financial institutions account for expected credit losses. Complying with the new CECL standard will have a major impact on an institution’s operations, accounting/finance, IT, credit, and risk processes and systems. 

This guide discusses the rationale and timing for the accounting change,  as well as the financial process and system changes required to comply, including:

  • Modeling alternatives
  • Required changes to financial statements and disclosures
  • How to implement a CECL response program 

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