QwickRate Announces CECL Estimator Tool for Community Banks

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New Addition to Company’s QwickAnalytics® Offering Provides Easy, Practical Method for Implementing Current Expected Credit Losses

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The QwickAnalytics CECL Estimator is an easy-to-use tool for community banks that eliminates the headache of calculating initial measurement of expected losses.

QwickRate, the premier non-brokered marketplace for funding and investing, announced today the CECL Estimator Tool, the latest addition to the company’s QwickAnalytics online offering. Designed specifically for community banks, this easy-to-use tool helps institutions compute the initial estimate of Current Expected Credit Losses (CECL).

“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, 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.”

With QwickAnalytics CECL, banks can ensure readiness in a few simple steps:

  • 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
  • Effortlessly edit the model to generate a customized report

QwickAnalytics, a Preferred Service Provider product of the Independent Community Bankers of America (ICBA), provides online bank research, analysis and tools that enable banks to quickly and effectively evaluate bank and peer performance as well as assess risk. QwickAnalytics’ affordable tools include Credit Stress Test, PeerWatch Trends Report and more. The CECL Estimator is an important new capability within the QwickAnalytics toolset that uniquely addresses the market’s need for a simple, practical method to implement CECL.

Free 30-Day Trial
QwickRate’s CECL Estimator is immediately available as part of a complimentary 30-day trial offer, which includes free access to the complete QwickAnalytics toolset. Visit http://www.qwickanalytics.com/CECL or contact (800) 285-8626 to get started.

Webinar This Week
To obtain an introduction to CECL Estimator and an overview of all the QwickAnalytics tools, register today for one of two complimentary webinars, taking place May 9 and May 10, 2018. Register at http://www.qwickanalytIcs.com/webinars.

About QwickRate
QwickRate provides the premier Marketplace for non-brokered funding and investing. With more than 3,000 members, QwickRate offers community financial institutions a cost-effective way to gain direct access to a nationwide CD market to help proactively manage their primary and contingency liquidity needs. The company’s online QwickAnalytics® tool offers interactive research on all 6,000 U.S. banks, Bank & Peer Performance analysis and examiner-ready Regulatory Compliance reports to save time, easily inform management and directors, and satisfy regulations. QwickRate is known for its exceptional customer service, which includes unlimited support and valuable on-staff regulatory guidance. QwickRate is a Preferred Service Provider of The Independent Community Bankers of America (ICBA). For more information, visit http://www.qwickrate.com or call (800) 285-8626.

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Lorie O'Neill
QwickRate
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