NCUA updates simplified CECL tool

June 27, 2023

NCUA updates simplified CECL tool

NCUA The NCUA Monday announced the latest updates to its simplified current expected credit losses (CECL) tool. According to the agency, the update includes the latest life-of-loan or Weighted Average Remaining Maturity methodology and additional minor enhancements.

The NCUA noted that it updates the CECL tool quarterly, enabling credit unions to use it “before its books are closed and it makes its quarterly NCUA call report submission.”

For most credit unions, CECL was implemented at the beginning of 2023; credit unions can visit the NCUA’s CECL Resources page for more information.

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