What You Need to Know
In 2013, following increased concern from member banks, IBAT filed a comment letter explaining the challenges community banks would face under the original CECL proposal.
On June 16, 2016, FASB released its standard updating the guidance on recognition and measurement of credit losses for financial assets. FASB has recognized the unique challenges faced by community banks in implementing and maintaining a potentially complex new process.
Following are a number of resources from FASB, ICBA and several IBAT associate members, explaining the new standard. As new information becomes available, it will be added to this page.
- Joint Statement from Federal Regulators
- OCC - CECL Resources
- Texas Department of Banking - CECL Resources
- CSBS - CECL Resources
- ICBA - CECL FAQ
- The Baker Group: FASB Issues CECL Standards Update
- BKD - New Credit Impairment Standard Issued
- Crowe Horwath - Here's CECL: FASB Issues Final Standard for Credit Losses
- Crowe Horwath - Inside the New Credit Loss Model: Requireents and Implementation Considerations
- DHG - The Wait is Over Planning for Day 1 of CECL (see also Preparing for CECL)
- FMS - An Analysis of the April 2016 CECL Draft (white paper)
- Moss Adams - FASB Issues the Final Credit Loss Standard
- SageWorks - FASB Finalizes Standard for Credit-Loss Accounting