The Federal Reserve said it will release a new tool this month to help community banks implement the Current Expected Credit Losses accounting standard.
Fed to launch CECL tool for community banks
July 02, 2021 / By ICBA
The Federal Reserve said it will release a new tool this month to help community banks implement the Current Expected Credit Losses accounting standard.
The Federal Reserve said it will release a new tool this month to help community banks implement the Current Expected Credit Losses accounting standard.
Details: The Scaled CECL Allowance for Losses Estimator, or SCALE, is a spreadsheet-based tool that uses regulatory and industry data to help community banks under $1 billion in assets to calculate their CECL allowances.
Upcoming Launch: The Fed said it will launch the SCALE tool and answer questions during an "Ask the Fed" webinar on July 15 intended for community banks.
Background: Under the CARES Act, institutions that adopted CECL last year may delay for two years the estimated impact on regulatory capital. The two-year delay is followed by the three-year transition period already in place. Read more from Fed.
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