Is your bank ready for CECL?

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In 2016, the Financial Accounting Standards Board (FASB) issued the current expected credit loss (CECL) standard, requiring banks to change the way they calculate potential future loss on certain financial instruments. Adopting the new guidelines may not be easy.

There is no denying that CECL involves unique challenges. Recent publications state that more than half of community banks have not started planning for CECL implementation. If you need additional guidance on navigating CECL and want to learn more about best practices for successfully reaching compliance, read our ebook, “Preparing for CECL: How Community Banks and Credit Unions Can Prepare for Implementation.”