Current Expected Credit Loss (CECL) Policy

SKU: 339

Your Price $495.00

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Description

Description

Description

Designed to allow Management of the institution, with oversight from the Board of Directors or a committee identified by the board, to maintain an adequate methodology for establishing, estimating, and maintaining  allowances for credit losses (ACLs) to properly reflect an accurate financial position of the organization while ensuring that the institution complies with guidance outlined by the regulatory agencies and the Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments and subsequent amendments issued since June 2016. These updates are codified in Accounting Standards Codification (ASC) Topic 326, Financial Instruments – Credit Losses (FASB ASC Topic 326).

Reflects the changes required by the June 2020 Policy Statement and covers the role of the Board of Directors and Management; an overview of the allowance for credit losses; the components of the primary allowance for credit loss, including data, segmentation, contractual term, credit loss measurement, reasonable and supportable forecasts, reversion techniques, and qualitative factor adjustments;  and reporting and testing.

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