Insight

COVID-19: Adapting CECL estimates to uncertainty

Emerging best practices and industry trends applicable to your bank during the COVID-19 pandemic

Michael Ohlweiler

Michael Ohlweiler

Partner, Advisory, Modeling & Valuation, KPMG US

+1 716-796-6029

Until recently, global and local macroeconomic activity and trends have been fairly consistent with only minor, short-term fluctuations. The emergence of COVID-19 and its impact to daily life calls into question our preparedness to cope with the possibility of a prolonged macroeconomic recession. The issue facing banks preparing to report, for the first time, loss estimates under the CECL standard is whether or not their process is robust and flexible enough to handle rapidly changing short- and long-term macroeconomic trends.

COVID-19: Adapting CECL estimates to uncertainty
Download this paper to learn KPMG’s perspective on emerging best practices and industry trends applicable to your bank during the COVID-19 pandemic.