One of the most significant changes affecting financial institutions in recent years is the FASB pronouncement regarding evaluation of credit risk. Current Expected Credit Losses (CECL) requires banks, credit unions and any firms with instruments exposed to potential credit loss estimate what those future losses may be. While some regulations affecting financial institutions may change or be eliminated as political winds change, CECL is not regulatory legislation. Changes are always possible, but CECL is much less likely to be altered for political reasons.
Prologue™ Credit Loss Manager from Fiserv helps address the challenges of CECL compliance with confidence. The solution can help your institution: