The Federal Reserve announced a new tool to help community banks implement Current Expected Credit Losses (CECL) accounting standard.
Earlier this morning, the Federal Reserve announced plans to release a new tool to help smaller community banks implement the Current Expected Credit Losses (CECL) accounting standard on July 15, 2021. The new tool, nicknamed SCALE (Scaled CECL Allowance for Losses Estimator) is to be spreadsheet-based and is intended to provide another implementation option for community banks with assets of less than $1 billion. This model will be designed to draw on publicly available regulatory and industry data.
CECL implementation is a key topic previously included in the Brown Edwards Community Banking Virtual Seminar summer session. Now it will also include a discussion of the Federal Reserve’s July 15th event and the SCALE tool.
Other seminar topics include:
- ALM, Interest Rate Risk and balance sheet management
- Tax Reform
- Compliance Hot Topics
- FASB Update
- FDIC Community Bank Study Recap
The summer session of the Brown Edwards Community Banking Virtual Seminar is scheduled for Thursday, July 22, 2021, from 10:00 to noon. Registration is free for this 2-hour event where you will be able to earn CPE credit and have access to a recording of the session.
