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Regions Financial tightens CECL disclosure

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Regions Financial tightens CECL disclosure

Regions Financial Corp.'s expected Day 1 impact from the current expected credit loss model is projected to come in at the lower end of the company's prior guidance.

On its 2019 fourth-quarter earnings conference call, management tightened its guidance to an estimated $500 million to $530 million increase to the allowance for credit losses upon implementation of CECL. The previous guidance was an increase from $500 million to $600 million.

Management did not offer any guidance on potential Day 2 impacts to loan loss provisioning throughout 2020. Instead, Regions will offer incremental disclosures throughout the year, CFO David Turner said on the conference call.

CECL's impacts in 2020 will depend on the company's net charge-offs, loan growth, loan portfolio mix and the economic outlook, he said.

"We will all learn a little bit from each other as we go through the year," Turner said.