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Webcast schedule

Making Sense Out of CECL: What You Need to Know to Meet CECL’s Deadline

June 13, 2017, 2:00pm EDT

CPE Credit(s): 1

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A recent survey of 100 financial institutions that was conducted by Compliance Week and RapidRatings Inc. reveals sharp and surprising diversity in how respondents are assessing and preparing for the CECL Accounting Standards Update.  According to the survey results, only 33% of financial institutions have a plan to address this revolutionary accounting change, and even fewer (23%) report having one in place.  It seems that there is much work to be done to prepare for CECL.

Be sure to attend this webinar to learn how financial institutions are gearing up to meet the CECL’s deadline and which challenges are causing them the greatest pain.  Survey highlights include:

  • Only 25% have a method in place for Estimating Losses; 29% expect to lean on historical losses, while 21% expect to employ migration analysis and a surprisingly small 14% expect to use PD x LGD.
  • Respondents appear to underestimate the percentage of C&I borrowers that are private and the extra analytical burdens that private borrowers present.

Speaker: James H. Gellert, CEO, Rapid Ratings