Policies

Current Expected Credit Loss Policy

Bank Policy

Designed to maintain an adequate methodology for complying with CECL. This policy cover the role of the Board and Management; an overview of the allowance for credit losses; the components of the primary allowance for credit loss and reporting and testing.

These updates are codified in Accounting Standards Codification (ASC) Topic 326, Financial Instruments – Credit Losses (FASB ASC Topic 326).

The updates also reflect the changes required by the June 2020 Policy Statement and covers the role of the Board of Directors and Management; an overview of the allowance for credit losses; the components of the primary allowance for credit loss, including data, segmentation, contractual term, credit loss measurement, reasonable and supportable forecasts, reversion techniques, and qualitative factor adjustments;  and reporting and testing.

ICBA Member - $445.50
Non-Member - $495.00