CECL compliance poses challenges for CUs.
Credit unions are bracing for the impact that the current expected credit loss (CECL) model may have on their institutions' ALLL and capital levels, and they are adopting transition plans now. One step credit unions will take in this process involves making sure the institution knows what types of data will be needed, what systems will need to be in place, and how much of that data needs to be collected and analyzed. Loan-level information will be required in CECL – a big change for many credit unions, which currently may only archive data at the pool level.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
