As banks continue preparing to implement the Current Expected Credit Loss model for loan loss accounting, the financial agencies yesterday issued 14 new answers to frequently asked questions.
The new FAQs, which join 23 others originally published in 2016, cover initial supervisory views about qualitative factors, data needs, and the use of the collateral-dependent practical expedient; changes in expected credit losses for purchased financial assets that deteriorate in value under CECL after their acquisition; the definition of a "public business entity" and matters related to PBE status; and the process for incorporating CECL into banks' regulatory reports, including examples for institutions with non-calendar fiscal years.
WBA will be offering a CECL Workshop on Wednesday, November 15 at the Crowne Plaza in Madison. Focusing on the upcoming CECL changes, this workshop will tentatively kick off at 9:00 a.m. and adjourn at 4:00 p.m. The registration fee will include registration and materials, lunch and refreshment breaks. Questions regarding the conference should be directed to WBA's Patty Rogers at email@example.com. Registration for the workshop will open in Fall 2017.
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