CECLRSS

CECL: managing implementation through collaboration

Too much debt

The accounting standard Current Expected Credit Loss (CECL), which requires banks to calculate expected credit losses and incorporate resulting provisions into its P&L statements, necessitates a flexible, adaptable technology solution that will enable closer collaboration among finance, risk and reporting functions.

CECL: introducing another project for banking IT departments

Jeroen Van Doorsselaere, Wolters Kluwer

There was some big news for bank’s risk and finance technology departments last month. The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. Notably, this standard introduces a new impairment model, commonly known as the CECL (current […]

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