August 30, 2017

DNB issued the banking newsletter for August 2017. This month one of the key focus areas is International Financial Reporting Standard (IFRS) 9. It has an operational impact for many banks in addition to a quantitative impact. The newsletter highlights that banks need to do a lot of work to comply with the new IFRS 9 standard by January 01, 2018, which is evidenced by an ECB survey among small and medium-size banks.

To estimate the degree of preparation for the conversion to IFRS 9 and its impact, DNB has, in collaboration with ECB, conducted a survey of a number of small and medium-size banks in Europe. A first observation is that, in eleven of the twenty banks, the adjustments for IFRS 9 are still in the design phase. Banks are facing issues related to the quality of data, the availability of historical data, the credit risk assessment, and the required capacity for the implementation of IFRS 9. Other focus areas of the newsletter include:

Progress on the DNB’s research on the impact of the regulation this year

Roundtable session on Russian Laundromat

DNB updates Survey/QIS calendar for banks


Related Links

Banking Newsletter (in Dutch)

Banking Calendar (PDF)

Keywords: Europe, Netherlands, Banking, Newsletter, IFRS 9, DNB

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