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Banks reconsider business approaches as CECL draws near

Tammy Whitehouse | May 20, 2018

A pending new requirement for how to reflect loan losses in financial statements is beginning to affect how banks do business, according to a recent poll.

The Global Association of Risk Professionals and analytics firm SAS surveyed 130 senior and mid-level executives at 98 lending organizations and learned the business model is shifting in a number of ways as they digest the implications of new accounting rules. Plans are changing not only with respect to IT systems and infrastructure but even in areas like product offerings and loan pricing strategies.

All public companies must comply with Accounting Standards Codification Topic 326 beginning in 2020, with financial institutions most heavily affected by...

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