The deadline to adopt the CECL standard is quickly approaching. Get tips on CECL adoption to make sure your institution is on track.
While large public institutions adopted the new current expected credit loss (CECL) standard in 2020 and 2021, smaller reporting companies, credit unions, and private institutions will be required to adopt CECL in 2023. No matter where upcoming adopters are in the planning process, these steps can help them get (or stay) on track.
Plus, on-track tips, based on experience with bank clients that already have been through the process, explain how to overcome different challenges – or prevent them altogether.