Simplified CECL Tool Updated for December 31, 2022

The National Credit Union Administration today released the December 2022 update of the Simplified CECL Tool. The update includes the latest life-of-loan, or Weighted Average Remaining Maturity factors, as well as minor enhancements.

For most credit unions, CECL will become effective Jan. 1, 2023. For credit unions that plan to use the Simplified CECL Tool, the December release can be used to determine the day-one adjustment to undivided earnings, as required by CECL implementation guidance.

With this update and future quarterly updates of the Simplified CECL Tool, a credit union can use the Tool to estimate its allowance for credit losses on loans and leases. Quarterly updates will be provided so a credit union can incorporate them before its books are closed and before it submits the NCUA’s Call Report.

To obtain the latest version, please visit The Simplified CECL Tool page and click on “Download the Latest Simplified CECL Tool.” To facilitate your evaluation of the Simplified CECL Tool, please review Frequently Asked Questions, the User Guide, and the Model Development Document located on the Simplified CECL Tool page.

For additional information on CECL, please visit our CECL Resources page.

For any questions unanswered in the CECL Resources, please contact EIMail@ncua.gov.