Abrigo

AUGUST 12, 2020

Key Takeaways The coronavirus pandemic has upended financial institutions' long-term business strategies, but now FIs have an opportunity to consider how consolidation can create greater efficiencies and better results – especially in the area of CECL and valuation calculations. Misconceptions of relating valuation calculations and CECL.

CECL 78

CECL Credit Unions Default Credit Risk 78

Abrigo

AUGUST 12, 2020

Key Takeaways The coronavirus pandemic has upended financial institutions' long-term business strategies, but now FIs have an opportunity to consider how consolidation can create greater efficiencies and better results – especially in the area of CECL and valuation calculations. Misconceptions of relating valuation calculations and CECL.

CECL 78

CECL Credit Unions Credit Risk Default 78

Abrigo

JULY 11, 2016

Central to the discussion this year will be strategies for transitioning to the new current expected credit loss (CECL) model that the Financial Accounting Standards Board (FASB) issued on June 16. CECL will not only affect all banks and credit unions, but also non-bank lenders,” said Sageworks Director of Consulting Emily Bogan.

CECL 60

CECL Credit Unions 60

Abrigo

SEPTEMBER 29, 2016

Key to the discussion this year were strategies for transitioning to the new current expected credit loss (CECL) model issued by the Financial Accounting Standards Board (FASB) on June 16.

CECL 79

CECL Credit Unions 79

Abrigo

JULY 17, 2019

Small public banks, privately held banks, and credit unions will get extra time to get CECL right, based on a move by the Financial Accounting Standards Board Wednesday. Securities and Exchange Commission filers until January 2023 for CECL implementation. More time for better CECL implementation.

CECL 60

CECL Credit Unions 60

Abrigo

OCTOBER 31, 2019

CECL | 6 minute read Key Takeaways The FASB affirmed plans to extend deadlines for CECL implementation; a final vote is expected in November. The current expected credit loss, or CECL, effective dates have been extended for all but the larger SEC filing institutions, correct? CECL workshops underway.

CECL 60

CECL Credit Unions Credit Risk 60

Abrigo

JANUARY 1, 2016

Government Accountability Office (GAO), community banks and credit unions are starting feel the impact of the Dodd-Frank Wall Street Reform Act. The GAO report, released on December 30th, examined nine Dodd-Frank rules that became effective as of October 2015 for impact on community banks and credit unions.

Credit Unions 60

Credit Unions CECL 60

Abrigo

FEBRUARY 3, 2016

Sageworks recently announced the dates and location for the 2016 Risk Management Summit. New for the 2016 Summit is an exclusive opportunity for Sageworks clients – the Sageworks ALLL User Pre-Conference. Early-bird registration is now available for bank and credit union professionals, with savings as much as $300 per person.

Credit Unions 60

Credit Unions CECL 60

Abrigo

AUGUST 2, 2017

In the 13 months since the Financial Accounting Standards Board (FASB) finalized its new standard on accounting for credit losses, ASU 326, financial institutions have been preparing to implement what has been labeled by some industry figures as the biggest change ever to bank accounting.

CECL 60

CECL Credit Unions Credit Risk 60

Abrigo

MARCH 20, 2020

This primary source of guidance on TDRs and testing for loan impairment could be especially important as banks and credit unions determine which loans have been affected by the impacts of public health actions to contain the coronavirus. Streamline the ALLL while bridging to CECL. CECL & TDRs. CECL Accounting.

CECL 78

CECL Credit Unions 78

Abrigo

JULY 13, 2017

The Summit is the industry’s leading life-of-loan conference, spanning loan origination through portfolio risk management in a CECL - current expected credit loss - world. In September 2016, more than 240 bankers and industry experts from both community banks and credit unions attended the Risk Management Summit in Austin, Texas.

Credit Unions 68

Credit Unions CECL Small Businesses 68

Abrigo

AUGUST 21, 2017

Compared to existing ALLL requirements, Accounting Standards Update 2016-13 (CECL) will require more inputs, assumptions, analysis and documentation, making the option to automate the process significantly more attractive for many institutions.

CECL 60

CECL Default Credit Unions 60

Abrigo

MARCH 22, 2017

The Summit is the industry’s leading life-of-loan conference, spanning business development through portfolio risk management in a CECL - current expected credit loss - world. In September 2016, more than 240 bankers and industry experts from both community banks and credit unions attended the Risk Management Summit in Austin, Texas.

CECL 74

CECL Credit Unions Small Businesses 74

Abrigo

FEBRUARY 29, 2016

Two-thirds of bankers in a recent poll said their allowance for loan and lease losses (ALLL) is primarily calculated by only one or two people in the institution, according to Sageworks, a financial information company that provides loan portfolio and risk management solutions to banks and credit unions.

CECL 60

CECL Credit Unions 60

Abrigo

OCTOBER 21, 2015

The Federal Reserve announced it will hold a special information session later this month for accountants, consultants, auditors and others to learn more about the FASB’s forthcoming current expected credit loss model , or CECL. To learn more about CECL, download the whitepaper, “ FASB’s CECL: How to Prepare Now.”.

CECL 60

CECL Credit Unions 60

Abrigo

JUNE 9, 2017

Ahead of a meeting by financial-institution representatives, auditors and others, the Financial Accounting Standards Board (FASB) have released five memos providing staff analyses of several issues raised about the nuances of implementing its Current Expected Credit Loss (CECL) model.

CECL 60

CECL Credit Unions 60

Abrigo

FEBRUARY 3, 2020

One challenge at a lot of banks and credit unions, however, is that a substantial chunk of the IT budget is tied up in technology infrastructure and maintenance and therefore, cannot be used for those new initiatives. Portfolio Risk & CECL. CECL Methodologies. Credit Risk Regulation. Asset/Liability.

CECL 60

CECL Credit Unions Cybersecurity Credit Risk 60

Abrigo

JANUARY 19, 2022

The unusual circumstances make effective loan pricing more imperative than ever for banks and credit unions. Excess liquidity is persisting into 2022, affecting balance sheets and capital and squeezing net interest margins further as banks and credit unions deploy more assets in the lower-margin investment portfolio or in plain cash.

Credit Unions 78

Credit Unions Credit Risk CECL Transactions 78

Abrigo

APRIL 20, 2016

With the pressures of changing regulations and data security continuing to increase, banks and credit unions must remain vigilant when it comes to their data. One of the changing regulations is FASB’s move to a current expected credit loss (CECL) model. Only 31 percent said they were archiving loan level detail.

CECL 60

CECL Credit Unions Credit and Collections 60

Abrigo

JULY 6, 2017

Why You Should Join Us The Summit offers actionable insights that apply across the whole institution, spanning business development through portfolio risk management in a CECL world. No other conference educates on the full life-of-the-loan concept.

CECL 60

CECL Credit Risk Credit Unions 60

Abrigo

JUNE 15, 2023

Credit: Brian Koppel, Reel to Real Filming Locations blog According to a Global Financial Integrity (GFI) study , an estimated $2.3 billion was laundered between 2015 and 2020 through the U.S. real estate market alone. However, the U.S. has lagged in passing laws and regulations preventing criminal proceeds from flowing into real estate.

Credit Unions 78

Credit Unions Credit and Collections CECL Transactions 78