May 8 — Marietta, Ga.-based QwickRate is rolling out a CECL Estimator Tool, the latest addition to its online offerings. The estimator is designed with community banks in mind, to help institutions compute the initial estimate of the Current Expected Credit Losses.
Called QwickAnalytics CECL, the new offering promises to:
- Calculate the initial measurement of expected losses that regulators require
- Enter the QwickAnalytics CECL amount as an assumption in the new interagency tool for estimating impact on capital ratios
- Edit the model to generate a customized report
“As communicated by the regulators, the typical community bank doesn’t need to employ complex modeling techniques to meet CECL requirements,” said Shawn O’Brien, president of QwickRate. “The QwickAnalytics CECL Estimator is an easy-to-use tool for these institutions that eliminates the headache of calculating expected losses, and this is particularly significant because no interagency tool exists to compute CECL.”
QwickRate is offering a free 30-day trial of the estimator, which includes free access to the complete QwickAnalytics toolset. It is also hosting complimentary webinars on May 9 and 10 that will introduce the new capability and give an overview of its functionality.