In December 2015, MST recently completed the Survey on CECL Preparation for financial institutions. See how bankers are planning and preparing for the new accounting standard.

2. CECL is coming.
• The FASB implementation timeline has been released.
• Public banks will begin calculating allowances based on a current expected
credit loss method Q1 2019.
• Privately held banks will begin calculating allowances in this method Q1 2020.
So what are banks expecting and how are they planning?
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3. • Banks from across the United States responded
• Variety of sizes

4. Data will be key to implementation.

5. Data collection will reach far back.

6. Methodologies will adjust with CECL.

7. So what will the outcome be?

8. Bankers see the need for an automated
software solution.

9. In Conclusion . . .
The survey revealed that the majority of bankers have moved
from inertia to action in their consideration of a preparations for
the coming of the new accounting standard on impairments.
How are you planning?
Download the full report.

10. About MST
Since 2005, MST has implemented technology solutions to help financial
institutions simultaneously simplify and sophisticate the way they manage
the inherent risk in their loan portfolios. MST is the leader and pioneer in
ALLL software solutions and education for financial institutions across the
U.S., and is committed to its leadership role in developing and refining
products that address ALLL compliance requirements as they evolve,
including under the new CECL accounting standard. MST solutions are bank-
tailored, integrate with core & other data systems, deliver greater control to
policy, and exponentially improve efficiencies - all of which positively impact
profitability.
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