SAS: CECL: Are US Banks Ready?

What is CECL?

CECL, or current expected credit loss, is a new accounting standard that will change how financial institutions account for expected credit losses. Following the financial crisis, much of the immediate focus by regulators and supervisory authorities was on recapitalizing institutions and guarding against systemic risk with an increased focus on stress testing as the preferred tool to protect the global economy from further erosion. Perhaps more important to the bottom line is