Who is CECL and why is everyone talking about him? This week, we explain all. On Tuesday, the LSTA hosted a webinar on the new Current Expected Credit Losses (“CECL”) accounting standard which goes into effect beginning in 2020 for public business entity SEC filers and 2021 for non-SEC filers. Why should you care? The new standard will change the way banks and other financial institutions account for expected credit losses.
CECL is the acronym du jour. But what is it, what will it mean for loans and what is the LSTA doing? We discuss all below.
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