The NCUA released updates to its Simplified Current Expected Credit Losses (CECL) Tool. The updates reflect the average loan loss rates for 2021-2023 and the latest life-of-loan —or Weighted Average Remaining Maturity—factors.
The agency noted that the updates will help credit unions determine the credit loss expense for the first quarter of 2024. It also said the tool helps credit unions with assets under $10 million more accurately measure credit losses and get stronger feedback on loan portfolio management.
Access the agency’s CECL Resources page for more on CECL.
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