Featured Product

    IASB Proposes Improvements to IFRS 9 and IFRS 16

    May 21, 2019

    IASB published the exposure draft ED 2019/2 that proposes amendments to four IFRS standards, including IFRS 9 on Financial Instruments and IFRS 16 on Leases. This consultation is a part of the annual maintenance and improvements of the standards. Comments period on this consultation ends on August 20, 2019.

    The draft includes a section for each IFRS standard or accompanying document for which an amendment is proposed. Each section includes an explanation of the proposed amendment, the paragraphs affected by the proposed amendment, and the basis for the Board’s conclusions in proposing the amendment. The proposed amendments to IFRS 9 clarifies the fees a company includes in assessing the terms of a new or modified financial liability to determine whether to "derecognize" a financial liability. The amendment to IFRS 16 removes the potential for confusion regarding lease incentives by amending an Illustrative Example accompanying IFRS 16.

    The annual improvements process provides a mechanism for dealing efficiently with a collection of minor amendments to IFRS standards. The process is limited to changes that either clarify the wording in an IFRS standard or correct relatively minor unintended consequences, oversights, or conflicts between requirements in the standards.


    Comment Due Date: August 20, 2019

    Keywords: International, Banking, IFRS 9, IFRS 16, IFRS, Financial Instruments, Leases, IASB

    Featured Experts
    Related Articles
    News

    HKMA Reduces Countercyclical Capital Buffer in Hong Kong to 2.0%

    HKMA announced that the countercyclical capital buffer (CCyB) for banks in Hong Kong has been reduced from 2.5% to 2.0%, with immediate effect, in accordance with the Banking (Capital) Rules.

    October 14, 2019 WebPage Regulatory News
    News

    EBA Single Rulebook Q&A: Second Update for October 2019

    EBA updated the Single Rulebook question and answer (Q&A) tool with answers to ten questions.

    October 11, 2019 WebPage Regulatory News
    News

    OCC Revises Minimum Threshold for Banks to Conduct Stress Tests

    OCC issued the final rule that amends its company-run stress testing requirements under the 12 CFR 46 in Code of Federal Regulations.

    October 10, 2019 WebPage Regulatory News
    News

    US Agencies Update Management Interlock Rules Under DIMIA

    US Agencies (FDIC, FED, and OCC) issued a final rule that increases the thresholds in the major assets prohibition for management interlocks for purposes of the Depository Institution Management Interlocks Act (DIMIA).

    October 10, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Rules to Closely Match Bank Risk Profiles

    US Agencies (OCC, FED, and FDIC) finalized rules that tailor the regulations for domestic and foreign banks to more closely match their risk profiles.

    October 10, 2019 WebPage Regulatory News
    News

    CPMI-IOSCO and FSB on Governance Arrangements for OTC Derivatives

    CPMI and IOSCO published a report that identifies key criteria, functions, and bodies for the governance arrangements.

    October 09, 2019 WebPage Regulatory News
    News

    EIOPA Launches Field Test on Templates Under 2020 Solvency II Review

    EIOPA, as part of the 2020 Solvency II reporting and disclosure review, launched a field test on the revised and newly proposed reporting templates.

    October 09, 2019 WebPage Regulatory News
    News

    US Agencies Adopt Rule on Appraisals for Real Estate Transactions

    US Agencies (FDIC, FED, and OCC) adopted the final rule to amend regulations requiring appraisals of real estate for certain transactions

    October 08, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Amendments to Simplify Volcker Rule

    US Agencies (CFTC, FDIC, FED, OCC, and SEC) finalized amendments to the regulations implementing section 13 of the Bank Holding Company Act, also known as the Volcker Rule.

    October 08, 2019 WebPage Regulatory News
    News

    EC Report Explores Application and Challenges of Blockchain Technology

    The Joint Research Center of EC published a report exploring the challenges and impact of distributed ledger technologies.

    October 08, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3960