The Financial Accounting Standards Board’s (FASB) Current Expected Credit Loss (CECL) approach to the Allowance for Loan and Lease Losses (ALLL) goes into effect in 2023. Experts advise an immediate, informed and methodical implementation and transition plan for all banks to help minimize CECL’s overall impact on an institution’s capital and human resources. The following roadmap guides your institution through that implementation, one step at a time.
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