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Takeaways from the July 30, 2018 Ask the Regulators Webinar - Part 2

By: Zach Englert Aug 17, 2018 8:09:00 AM

The July 30 installment of the “Ask the Regulators” series included speakers from the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission (SEC), the Conference of State Bank Supervisors (CSBS), and the Financial Accounting Standards Board (FASB). The goals of the session were to:

  • Share the agencies’ perspectives on 27 questions submitted by community institutions
  • Demonstrate a consistency of views across agencies
  • Share common challenges faced by community institutions about implementing CECL
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Topics: CECL, Regulators

Takeaways from the July 30, 2018 Ask the Regulators Webinar

By: Zach Englert Aug 10, 2018 2:17:51 PM

The July 30 installment of the  “Ask the Regulators” series included speakers from the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the U.S. Securities and Exchange Commission (SEC), the Conference of State Bank Supervisors (CSBS), and the Financial Accounting Standards Board (FDIC). The goals of the session were to:

  • Share the agencies’ perspectives on 27 questions submitted by community institutions
  • Demonstrate a consistency of views across agencies
  • Share common challenges faced by community institutions about implementing CECL
More

Topics: CECL, Regulators

FASB Proposes CECL Extension - What's the True Impact?

By: Regan Camp Aug 4, 2018 6:41:37 PM

As you may have read or heard, the Financial Accounting Standard Board (FASB) has proposed extending the Update 2016-13 (or CECL) effective date for non-public business entities (PBEs) to fiscal years beginning after December 15, 2021, and interim periods within those fiscal years.  While at first this proposed extension may seem to offer a full year of additional relief for many private banks and credit unions, the true impact falls short of that expectation. 

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Topics: CECL

July Jobs: Below Expectations

By: mstbanking Aug 3, 2018 1:05:15 PM

Guest blog by Dr. Tom Cunningham, Economist and MST Advisory Services, Senior Advisor- Economics 

July jobs came in below expectations. The monthly Bureau of Labor Statistics reports released today showed 157,000 jobs were created in July versus a projected 190,000. However, upward revisions to previous months’ figures were notable, adding 59,000 jobs. Hiring was in business and professional services, manufacturing, and health care. Other sectors were essentially unchanged.  

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Topics: economic indicators, economic forecasting

6 Considerations for the Best CECL Option for Your Financial Institution

By: mstbanking Jul 27, 2018 8:58:05 AM

The CECL preparation business is booming. And like sharks to blood in the water, a new wave of CECL “experts” are moving in from all sides looking for easy prey. Lenders can be vulnerable to anyone with a financial credential who has studied the FASB guidance just enough to know more than they do.  

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Topics: CECL

Banker's Toolbox + MST + Sageworks

By: mstbanking Jul 24, 2018 4:42:09 PM

MST is excited to be a part of a growing fintech family following the company’s acquisition by Accel-KKR in early April. In addition to MST, the firm has invested in Banker’s Toolbox, a BSA, Anti-Money Laundering and fraud detection software provider in Austin, TX, and Sageworks, a life of loan software provider in Raleigh, NC.  With the combined three companies and a roadmap for continued growth, the new company will be poised to deliver even more value to community financial institutions through our expanded platform and services. The company has a shared commitment to customer success, so financial institutions will benefit from a single point of contact for the integrated platform and more solutions to help clients achieve their risk management and growth objectives. 

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MST 2018 Annual Lender Survey Tracks Progress as Financial Institutions Prepare for CECL Accounting Standard

By: Brandy Aycock Jul 20, 2018 9:26:46 AM

Again this year MST used its annual survey to focus on the new ASU 2016-13 accounting standard, CECL (current expected credit losses), set for implementation in 2020 and 2021, which will dramatically change how banks and credit unions determine their reserves. 

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Topics: CECL

CECL Methodologies for Small Institutions: Agencies Make Recommendations

By: Regan Camp Jul 13, 2018 10:37:04 AM

On February 27, representatives of several regulatory agencies, including the FDIC, FASB and the SEC, hosted a webinar to offer sample CECL methodologies considered appropriate for “smaller, less complex” financial institutions. The speakers referenced three methodologies: snapshot or open pool method, remaining life method and vintage method. 

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Topics: current expected credit loss, CECL

June Jobs: Good Numbers, Subject to Misinterpretation

By: mstbanking Jul 6, 2018 9:24:03 PM

Guest blog by Dr. Tom Cunningham, Economist and MST Advisory Services, Senior Advisor- Economics 

This month’s national Employment Situation report from the Bureau of Labor Statistics (BLS) features a substantial increase in jobs, but the release is getting mixed reviews. The U.S. added 213,000 jobs, well above expectations of around 190,000 – and another 37,000 in revisions to the April and May counts. Still, the headline unemployment rate ticked up from 3.8 to 4 percent. 

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Topics: economic indicators

CECL: Get More Out of Your Investment than Compliance

By: mstbanking Jun 29, 2018 10:02:28 AM

You’re investing a great deal of time and money preparing for and implementing your CECL solution. You should get a lot more out of it than compliance. There are many ways to leverage what you’re doing – the data, the processes, the analyses – to enhance your business. 

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Topics: CECL

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