CECL: A Regulators’ Perspective
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How Financial Regulators View the CECL Framework and Its Implementation Challenges
The December 15, 2019 deadline for implementing the CECL framework is looming for public filers, with more deadlines to follow for nonpublic entities and for smaller financial institutions. Our experience with clients suggests that virtually all banks have started their CECL journey but that only about 20% are at a high level of maturity regarding their data collection, governance and model validation.
In this article, Protiviti’s Todd Pleune and Jeffrey Marsh outline regulators’ viewpoint on the CECL journey, as outlined in a recent panel discussion composed of financial regulators from 25 banks and financial institutions.