FSB published responses received to the consultation on a report on the evaluation of the effects of financial regulatory reforms on small and medium-sized enterprise (SME) financing. The consultation was launched in June 07, 2019, with the comment period ending on August 07, 2019. FSB published responses received from Alternative Investment Management Association (AIMA), European Banking Federation (EBF), Fedart Fidi, French Banking Federation (FBF), Genossenschaftsverband - Verband der Regionen, Institute of International Finance (IIF), Italian Banking Association (ABI), Leaseurope, SMEunited, and the U.S. Chamber of Commerce.
The evaluation is a part of the broader examination of the effects of the G20 regulatory reforms on financial intermediation. The evaluation considers the impact of the implementation Basel III and accounting standards such as IFRS 9 and its equivalent in various jurisdictions. The consultation on the evaluation of the effects of regulatory reforms on SME financing had outlined tehe relevant reforms potentially affecting SME finance and presented the implementation timelines and possible transmission channels for these reforms. The consultation report had stated that stakeholders identified Basel III as the most relevant reform impacting the provision of SME lending, although there were mixed views about its importance. Changes to accounting standards for expected credit loss (ECL) were also cited by stakeholders as potentially affecting SME financing.
Keywords: International, Banking, Accounting, Basel III, Proportionality, IFRS 9, Credit Risk, Regulatory Reform, Responses to Consultation, FSB
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