NCUA released the September 2023 update of its Simplified CECL Tool, which includes the latest life-of-loan, or Weighted Average Remaining Maturity, factors, and other enhancements to to determine the credit loss expense, or provision for credit losses, for the quarter that ends Sept. 30.
NCUA released the June 2023 update of its Simplified CECL Tool this week. The update includes the latest life-of-loan, or Weighted Average Remaining Maturity, factors and additional minor enhancements.
NCUA will host a webinar on May 3 explaining the agency’s Simplified CECL Tool, created to help small credit unions implement the CECL accounting standard. Registration is now open for the free webinar, which will begin at 12:30 p.m. ET and run approximately 60 minutes.
NCUA released the March 2023 update of its Simplified CECL Tool. For credit unions that started using the Simplified CECL Tool in the first part of 2023, this release is to determine the credit loss expense from the date of adopting CECL until March 31, 2023.
NCUA released the first update of the Simplified CECL Tool to enable credit unions to test and calibrate the tool to estimate the allowance for credit losses on loans and leases as of September 30, 2022. The update includes the latest life-of-loan, or Weighted Average Remaining Maturity factors, as well as minor enhancements.
NCUA's Office of Examination and Insurance is hosting a webinar on the recently announced Simplified Current Expected Credit Loss (CECL) Tool. The one-hour live webinar will take place on Wednesday, October 12, beginning at 2 p.m. ET.
NCUA released a new tool Wednesday to help small credit unions comply with the CECL standard, which goes into effect for most credit unions Jan. 1, 2023. CUNA has called on NCUA to provide guidance to credit unions on CECL implementation.
The Winter 2023 issue of Credit Union Magazine explores award-winning marketing, board training on a budget, developments in instant payments, service to small businesses, and NCUA’s final rule on member expulsion.