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Financial institutions of all sizes must meet the impending deadline for compliance with the Impairment Requirements of the Current Expected Credit Loss standard (CECL). How they meet it will create competitive advantages and disadvantages. Gaps between institutions will be evident in not only compliance efficiency and cost, but whether or not they are equipped to adjust credit strategies, marketing campaigns and collection practices to perform well in the new environment. Competitive gaps will widen post-implementation as companies that focused only on compliance computation fall behind those that also focus on making better credit lifecycle and capital consumption decisions.