IASB published the Update from its June 22, 2017 meeting, along with the updated work plan. The work plan has been updated to reflect decisions made at the June meeting of the Board.
The IASB Update contains a staff summary of the tentative decisions reached by the IASB in its public meetings, which take place each month, except August. The IASB Update highlights preliminary decisions of the Board. The topics for discussion at this month’s meeting were conceptual framework, accounting policies and accounting estimates (proposed amendments to IAS 8), primary financial statements, rate-regulated activities, IFRS implementation issues, prepayment features with negative compensation (proposed amendments to IFRS 9), dynamic risk management (education session), and definition of a business. At this meeting, the Board considered feedback from the comment letters on the Exposure Draft Prepayment Features with Negative Compensation (proposed amendments to IFRS 9). The Board also considered issues that need to be discussed in the re-deliberation of the proposed amendments to IFRS 9. The Board re-deliberation will take place at the July Board meeting.
Keywords: International, Banking, IASB, IFRS 9, Negative Compensation, Work Plan
PRA, via the consultation paper CP12/20, proposed changes to its rules, supervisory statements, and statements of policy to implement certain elements of the Capital Requirements Directive (CRD5).
EIOPA published the financial stability report that provides detailed quantitative and qualitative assessment of the key risks identified for the insurance and occupational pensions sectors in the European Economic Area.
EBA published its risk dashboard for the first quarter of 2020 together with the results of the risk assessment questionnaire.
EBA announced that the next stress testing exercise is expected to be launched at the end of January 2021 and its results are to be published at the end of July 2021.
PRA published the consultation paper CP11/20 that sets out its expectations and guidance related to auditors’ work on the matching adjustment under Solvency II.
MAS published a statement guidance on dividend distribution by banks.
APRA updated its capital management guidance for banks, particularly easing restrictions around paying dividends as institutions continue to manage the disruption caused by COVID-19 pandemic.
FSB published a report that reviews the progress on data collection for macro-prudential analysis and the availability and use of macro-prudential tools in Germany.
EBA issued a statement reminding financial institutions that the transition period between EU and UK will expire on December 31, 2020; this will end the possibility for the UK-based financial institutions to offer financial services to EU customers on a cross-border basis via passporting.
SRB published guidance on operational continuity in resolution and financial market infrastructure (FMI) contingency plans.