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