BDE issued Circular 2/2018, which modifies Circular 4/2017 on rules of public and reserved financial information and financial statement models. Circular 2/2018 also modifies Circular 1/2013 on the Risk Information Center (Central de Información de Riesgos, or CIR) to incorporate minor changes to introduce clarifications and improvements. Circular 2/2018 enters into force on January 01, 2019. The main objective of Circular 2/2018 is to adapt Circular 4/2017 to Regulation (EU) 2017/1986. The Commission Regulation (EU) 2017/1986 amends Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council regarding the International Financial Reporting Standard (IFRS) 16 on leases. In this way, BDE continues to maintain compatibility of the accounting regime of Spanish credit institutions with the European accounting system, as already stated in Circular 4/2017.
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Effective Date: January 01, 2019
Keywords: Europe, Spain, Banking, Accounting, IFRS 16, Leases, Circular 2/2018, BDE
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EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.
In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.
IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.
FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.
EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.
FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.
RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.
The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.
HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.
ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).