This DNAapp creates export files and associated comma-separated value (CSV) files so the Fiserv Prologue accounting package or other accounting software packages can develop historical data.
This package contains ALM-CECL Extract (MM_ALMCECL) and DNA Prologue ALM Conversion Helper (MM_ALMCECL_CONV)
The ALM-CECL Extract app creates export files and associated comma-separated value (CSV) files so the Fiserv Prologue accounting package or other accounting software packages can develop historical data.
The batch application produces extracts and CSV files that include existing data elements from the batch application as well as additional elements for commercial loans, consumer loans and mortgage loans from DNA® that are required for Prologue’s Current Expected Credit Loss Extract (CECL). These extracts and CSV files can also be used with other accounting software packages.
Financial officers can use the DNA® information from the batch application extracts to begin feeding accounting software with the needed historical information and comply with the updated standard for recognition and measurement of credit losses for loans in advance of the effective date starting in 2020.
The updated accounting standards are effective as follows:
- March 31, 2020 — Public Business Entities (PBEs) that are U.S. Securities and Exchange Commission (SEC) filers
- March 31, 2021 — PBEs that are not SEC filers
- December 31, 2021 — private companies
However, to comply with the standard, financial institutions must gather data in advance of the effective date.
If you are downloading this DNAapp for the first time, DNA 126.96.36.199 or higher is required.
Note: Earlier versions of this DNAapp are not forward compatible with DNA 188.8.131.52 or higher