GCD is currently concluding a yellow page agreement with various consultant firms who have been working with GCD in the past and are knowledgeable about GCD's data model and/activities. For our members, this will lead to more dedicated studies, focus and working groups. And our newly created Yellow Page section on our website will ease the contact between those partners and the banks.
The year 2019 will be a busy one for all US Banks. With banks, standardsetters and regulators still engaged in a debate about what implementation of the CECL standard for Day 1, there are only 11 month left before public firms “go live” on CECL. The principle-based nature of the standard means that the remaining time needs to be spent on testing assumptions and validating approaches. For many banks, attention is on finalizing implementation plans and to kick-start the parallel run.
SAVE THE DATE: The next North American Conference is hosted by Citibank on September 24 & 25 in New York City.
More details on the agenda will be available in the coming weeks on our website. CECL and the CECL work of GCD (survey plus benchmarking study) will be on the agenda. Please contact any of the GCD Executives if you would like to present during plenary or break-out sessions.
GCD will be working with Accenture and the IIF to help U.S. financial institutions benchmark their CECL models as they are developed. For this purpose, GCD has rolled out a deep methodological survey, providing banks the opportunity to benchmark their methods. We plan to follow the survey with a benchmarking exercise to commence in the early fall. More information can be found here: