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What does CECL mean? - The Financial Accounting Standards Board (FASB) issued the final Current Expected Credit Loss (CECL) standard on June 16, 2016. After the financial crisis in 2007-2008, the FASB decided to revisit how banks estimate losses in the Allowance for Loan and Lease Losses (ALLL) calculation.
Read attached if you are interested in simplifying CECL.