CECL & Data
As lenders begin to prepare for CECL, their thoughts turn to data. They know they’re going to need a lot of it, a “significant increase in the types and ranges of data that such organizations need to capture and retain in order to properly estimate future credit losses,” according to Crowe Horwath LLP’s white paper, Adapting to CECL – Taking Stock of the Data Requirements.
Not only more data, of course, but more kinds of data: economic data, credit and risk ratings, peer and industry data. And borrower and loan data will need to be deeper and broader, and proven consistent and accurate.
MST has worked with several industry experts on this topic to get their insight on how lenders are addressing their data needs for CECL. Learn more about CECL and the data you will need to comply with CECL with the following pieces below.
How Far, How Wide: CECL and Data: MST Interview with Steve Wagner of Crowe Horwath gives insight on how lenders are addressing their needs for data.
CECL’s Four-Letter Word: As seen in the September 20, 2016 FMS Update newsletter with expert comment from MST’s EVP John Closs.
CECL Data Worksheet: Download this worksheet to assess the data your institution currently has and what you may need for CECL.