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CECL Is Here to Stay
 

Asset Management Group (AMG) wrote about an offer for the storage of Current Expected Credit Losses (CECL) data in our PMR in September.  Many banks have inquired about the service and several have added it to what we currently do for them. The offer remains available for those who are still in need of this service and the article can be accessed by clicking the following link:

PMR - CECL Option to Have Choices 09/11/20

We continue to have conversations with auditors and regulators about what is expected of community banks as it relates to CECL.  The overwhelming response is that community banks should keep their CECL modeling somewhat simple and that it is important to maintain documentation for justification.  Banks also need to begin the process of storing their data in an effort to have sufficient history and calculate a reasonable Allowance for Credit Loss number. 

In this month’s Pro Shop, we would appreciate hearing from you.  Please help us by participating in this short survey on CECL solutions.  This will allow us to better understand your needs as it relates to CECL and how we can better serve your bank.  We kindly ask that you please send your responses to the following email address: amg@bancpath.com or click the link below to access the survey online.  We truly appreciate your time and input!


CECL SURVEY LINK TO RESPOND ONLINE

 

1.  Are you current storing your own data for CECL?                                               YES    or      NO

2.  Currently working with another provider for this service                                      YES    or      NO

3.  Have you already implemented a CECL solution?                                              YES    or      NO

4.  If a solution was priced between $7,000 and $10,000 annually,
     would that be competitive with other solutions you have researched
     or are currently using?                                                                                         YES    or      NO


5.  Is a Sarbanes Oxley audited model a requirement for you?                                YES    or      NO

6.  Optional:  Who should we contact to share more about our process and CECL storage solution?

     Name                                                                                                     
     Email                                                                                                     

     Phone                                                                                                   



This information is intended for institutional investors only. The material provided in this document/presentation is for informational purposes only and is intended solely for private use. Past performance is not indicative of future results. This material is not intended as an offer or solicitation for the purchase or sale of any financial instruments.

•Not FDIC Insured •No Bank Guarantee •May Lose Value