IASB published narrow-scope amendments and annual improvements to several standards, including IFRS 9 and IFRS 16. The amendment to IFRS 9, the Financial Instruments standard, is part of the Annual Improvements to IFRS Standards 2018–2020. The amendment to IFRS 9 clarifies that the fees a company includes when assessing whether the terms of a new or modified financial liability are substantially different from the terms of the original financial liability. All amendments become effective from January 01, 2022.
Effective Date: January 01, 2022
Keywords: International, Banking, IFRS 9, Financial Instruments, IFRS 16, Leases, IASB
FSB published the annual report that examines to-date progress toward implementation of climate-related disclosure recommendations of the industry-led Task Force on Climate-related Financial Disclosures (TCFD).
PRA launched a consultation (CP18/20) setting out proposals for the "Contractual Recognition of Bail-in" and "Stay in Resolution" Rules.
APRA is consulting on the reporting standard for credit risk management (ARS 220.0).
EC published draft of a delegated regulation amending liquidity coverage rules for covered bond issuers.
ESMA published an update to its March 2019 statement on the endorsement of credit ratings from UK.
FASB is consulting on the XBRL US Data Quality Committee (DQC) Rules Taxonomy (DQCRT) along with two technical guides.
PRA published Version 2 of the questions and answers (Q&A) on the Branch Return form.
FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).
ISDA launched the IBOR Fallbacks Supplement and the IBOR Fallbacks Protocol, with both becoming effective on January 25, 2021.
BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.