Tag Archives: CECL

ABA Endorses Two CECL Software Solutions

The American Bankers Association today announced its endorsement of two software solutions to help banks meet the upcoming deadline for Current Expected Credit Loss implementation. Sageworks ALLL and MST Loan Loss Analyzer are software solutions that provide modeling and data management for CECL accounting. CECL represents the biggest accounting change in banking history. The new standard requires banks to record ...

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ABA Issues CECL Discussion Paper on Financial Reporting Disclosures

The American Bankers Association has issued a new discussion paper on the Current Expected Credit Loss standard aimed at educating bank investors, board members and auditors on what to look for under the new standard and the challenges bankers will have in addressing common questions from these stakeholders. 

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FASB Proposes Technical Corrections to CECL

The Financial Accounting Standards Board today issued an exposure draft of an accounting standards update that would make technical corrections to the Current Expected Credit Loss accounting standard.

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AICPA Proposes Papers to Address CECL Issues

The American Institute of Certified Public Accountants has issued two draft papers that address – in a generally positive way -- issues related to the implementation of the Current Expected Credit Loss standard, which will require banks to record credit losses at origination based on the life-of-loan loss expectations.

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FASB to Extend CECL Effective Date for Private Banks

Responding to a concern initially raised by the American Bankers Association in a discussion paper, the Financial Accounting Standards board agreed today to propose changing the effective date of the Current Expected Credit Loss accounting standard for “non-public business entities” to fiscal years beginning after Dec. 15, 2021.

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