Current Expected Credit Loss Standard
The Current Expected Credit Loss standard (Accounting Standards Update No. 2016-13) or intimately known as CECL, has been a hot topic in the banking industry since the Financial Accounting Standards Board’s first CECL exposure draft in 2012. The CECL standard was issued in June 2016 and in response to the impending changes, Baker Newman Noyes (BNN) has created a CECL Task Force to address the challenges and questions surrounding the new standard, particularly as it relates to loans and the allowance for loan losses. Our team offers a suite of services and tools to guide clients through the CECL accounting change. In addition, we have created an easy-to-use CECL Toolkit to help banks prepare for the transition.
Baker Newman Noyes CECL Toolkit
Download our complimentary Toolkit to help get your bank on track for a successful CECL implementation. You’ll also receive updates and other helpful articles from our banking industry practice.
If you would like more information or need assistance with CECL, contact our .(JavaScript must be enabled to view this email address) or your BNN banking contact today. Click here to see our full list of CECL resources.
Stay tuned for our upcoming “Issues of Interest” newsletter as we will be featuring CECL in every issue between now and CECL’s implementation date. Additionally we will keep our toolkit up-to-date and will be adding to it between now and implementation.
Related Resources (Read More in Our Library)
- Implementing CECL: A Practical Perspective on Documentation Requirements
- Proposed Regulatory Relief of the Day-One Effect of Implementing CECL
- Don’t Let the New CECL Disclosures be an Afterthought
- Manageable CECL Implementation Timeline
- How To Prepare for Current Expected Credit Losses
- FASB’s Current Expected Credit Loss Model for Credit Loss Accounting (CECL)
- FASB Issues Guidance on CECL
- FASB Votes to Proceed with the Final CECL Standard
- CECL Effective Date Determined
Lead Contact
Nathalia Bergamini
Manager
Nathalia serves community banks, credit unions, and financial holding companies registered with the SEC and has particular experience with internal control reporting requirements for the Sarbanes-Oxley Act and FDICIA reporting.
Team Members
