Emily McCormick, vice president of research for Bank Director
Issued by the Financial Accounting Standards Board (FASB) in June 2016, the current expected credit loss model, or CECL, is one of the biggest accounting changes that the banking industry has experienced, as it replaces the current incurred loss model for estimating credit losses. The credit loss calculations under CECL will likely increase loan loss allowance levels, so boards should understand how the new standard will impact current strategies relative to growth and capital planning, says Chad Kellar, a partner at the advisory firm Crowe LLP. The new standard takes effect for fiscal years beginning after December 15, 2019, for...
Please enter your username and password below.
You have accessed a resource that is only available to Bank Director magazine subscribers and Bank Services members.
To start a subscription to the top resource for bank leaders, click here.
If you are a Bank Services Member, you can access Bank Director by logging in here or entering your magazine passcode and email in the form on the left.
Emily McCormick is the vice president of research for Bank Director, an information resource for directors and officers of financial companies.You can follow her on Twitter at twitter.com/ehmccormick or get connected on LinkedIn.