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ARTICLE · 15 JUNE 2017

Manageable CECL Implementation Timeline

Baker Newman Noyes
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The Current Expected Credit Loss standard (Accounting Standards Update No. 2016-13) or intimately known as CECL,

United StatesFinance and Banking
Nickolas Ireland
Nickolas Ireland

The Current Expected Credit Loss standard (Accounting Standards Update No. 2016-13) or intimately known as CECL, has been a hot topic in the banking industry since the Financial Accounting Standards Board's first CECL exposure draft in 2012. The CECL standard was issued in June 2016, and while implementation is commonly perceived to be "a ways out," the time is now to get the plan in place to ensure proper implementation.

As a reminder, the standard has the following effective dates:

  • SEC filers – fiscal years beginning after 12/15/19 (including interim periods) - 2020 for calendar year ends
  • Public business entities, as defined, that are not SEC filers – fiscal years beginning after 12/15/20 (including interim periods) - 2021 for calendar year ends

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