What impact is IFRS-9 forward provisioning having on banks during the Covid-19 crisis?
05/15/20 • 29 min
The economic fall-out from the Covid-19 pandemic is the first major test for the IFRS-9 accounting standard, which only came into force in 2018.
Global Risk Regulator chaired a discussion about how banks are interpreting the IFRS-9 standard, what approaches they’re taking to forward provisioning for bad loans and how they’re accounting for regulatory guidance around how they should provision for non-performing loans.
The two experts who took part in the discussion were Jane Fuller who is a co-director at the Centre for the Study of Financial Innovation and a fellow at the CFA Institute UK and Damien Burke who is a partner at the credit risk consultancy, 4Most.
Hosted on Acast. See acast.com/privacy for more information.
The economic fall-out from the Covid-19 pandemic is the first major test for the IFRS-9 accounting standard, which only came into force in 2018.
Global Risk Regulator chaired a discussion about how banks are interpreting the IFRS-9 standard, what approaches they’re taking to forward provisioning for bad loans and how they’re accounting for regulatory guidance around how they should provision for non-performing loans.
The two experts who took part in the discussion were Jane Fuller who is a co-director at the Centre for the Study of Financial Innovation and a fellow at the CFA Institute UK and Damien Burke who is a partner at the credit risk consultancy, 4Most.
Hosted on Acast. See acast.com/privacy for more information.
Next Episode
How will global banking regulation shape up after Covid-19?
Regulators, central banks and governments have taken unprecedented measures to support the economy during population lockdowns around the world to stamp out the spread of the Covid-19 pandemic.
Prudential regulators have also acted quickly to ensure banks help support the economy. This has involved measures ranging from payment holidays on some loans, to delayed reporting through to pushing back some regulatory implementation deadlines and even temporary relaxations of some capital requirements.
But are these measures temporary or do they signal a new trend where individual jurisdictions diverge from the bits of the Basel framework they don’t like?
In this series, Michael McKee, a partner at global law firm DLA Piper and David Strachan, the head of EMEA Centre for Regulatory Strategy at global consultancy Deloitte, have shared some insights as to how these trends might play out.
Hosted on Acast. See acast.com/privacy for more information.
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