Need a smart solution for CECL compliance?

Conveniently comply with required loss forecasting models.

Banks and finance companies, how well are you adjusting to the Current Expected Credit Loss (CECL) accounting standard? Credit unions, will you be ready come January 1, 2023? We know it’s a big change having to project the expected loss for each loan at the time of origination, but we can help make it easier to adhere to this standard.

SmartReserve™, powered by Equifax market-leading Credit Trends data, provides access to the historical customer credit data needed to help accurately forecast future losses and calculate the reserves required under the CECL standard.

Partnering with Moody’s Analytics, SmartReserve™ offers multiple levels of CECL support to address varying business needs.

The data set can be delivered in aggregate or at the loan level, based on the needs of your financial institution. It includes the following historical information to support your loss forecasts:

  • pre-recession, recession, and post-recession vintages, from 2005 forward.
  • 100% of the Equifax consumer database where consumers have at least one trade.
  • monthly updates and trades linked over time to enable accurate vintage curves, updates, and forecasting based on loan and consumer profiles for the life of the loan.
  • monthly updates to entire data files including balances, delinquency, and current score.
  • ability to track book of businesses across multiple segmentation items including risk score, estimated income (score based), geography, and more.

Whether you need data or both data and analytic services, Equifax has you covered. Together, we can create a solution that fits your needs.