TOPIC: FAS 5

2019 CECL Survey - Chance to win a $300 Yeti cooler!

Each year MST, now Abrigo, has been implementing an allowance survey. This year we’re asking about your progress in the CECL transition, how you are preparing and what you are determining in terms of how CECL will impact your institution. As always, we’ll compile answers and share the results so you can compare what you are doing with your peers. We encourage you to participate. As a token of our appreciation, you will have the chance to win a $300 Yeti cooler or a Bluetooth speaker.

We wish you a productive and profitable 2019!

Take the survey: https://www.surveymonkey.com/r/J236LTW

    Having trouble keeping up with all these CECL updates?

    CECL is in the news a LOT now that we're less than a year out from the transition. Robert Ashbaugh and Chris Emery are making sure your financial institution understands all of the recent changes and the ways that those changes and proposals might affect your institution's CECL implementation. Tune in for our free webinar in two weeks -- get registered here: http://bit.ly/2GrF1mr

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      Webinar: Interpreting CECL Modeling Results

      For those who are currently building out their CECL models, did your results not match your expectations? Are you confused on what to do next?

      Join us on Monday, December 10th from 1:30-2:30 p.m. ET. for an interactive walkthrough of common modeling problems and questions. Common questions include:

      • What happens if I don’t have enough loan-level historical data?
      • What do I do if my results are zero?
      • Are there shortcuts for anticipating when certain approaches won’t work before building models to test?

      Sageworks risk management consultants Brandon Quinones and Danny Sharman will answer these questions and discuss how results can be interpreted and pivoted to other approaches that may provide more transparent outcomes.

      Register now: https://web.sageworks.com/interpreting-cecl-results/

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        Whitepaper: CECL amortized cost basis considerations and applications

        The Current and Expected Credit Loss (CECL) accounting standard, ASU 2016-13 (Topic 326), outlines that the allowance for credit losses should be a valuation account deducted from the amortized cost basis of financial assets. Amortized cost basis includes, but is not limited to, adjustments for accrued interest, unamortized premium and discounts, and net deferred fees or costs. Entities valuation techniques should present the net amount expected to be collected on the financial asset.

        This complimentary document is intended to cover amortized cost basis application, specific guidance, and conceptual soundness under the context of ASU 2016-13 (Topic 326).

        Access here: https://web.sageworks.com/cecl-amortized-cost-basis

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