What’s the problem with #CECL ?
Most bankers understand that CECL is on the horizon but they’re not focused on what to do about it.
Maybe they think if they ignore it, it might go away...
Put their head in the sand like an ostrich
...Especially if they’re from a credit union.
But you better stop right there and accept it as if it were an unchangeable law of the universe.
Here’s the reality…
CECL is happening.
FASB is not beholden to Congress.
Ignoring CECL will not help.
It’s time to get serious about understanding CECL, planning for it, and starting to run parallel.
How is your board going to develop approved policies procedures and limits if you’re not even running your numbers?
How will you prepare for CECL reserve levels if you don’t even know what they are?
Where are you on CECL?