BCB Consults on Hedge Accounting Criteria Related to IFRS 9
BCB is consulting on the proposal for a normative act providing accounting criteria for the designation and registration of hedge accounting by financial institutions and other institutions that are authorized to operate by BCB. Comments are due by October 05, 2018.
Due to the length and complexity of the topic, the incorporation of the international standard on financial instruments was divided into stages. The first stage covered the criteria for recognition, classification and measurement of financial instruments, while the second stage addressed the provision for expected losses associated with the credit risk of financial instruments. Both were the objects of earlier public consultations (No. 54/2017 of August 2017 and No. 60/2018 of February 2018). This proposed draft resolution represents the third stage of this process and addresses the criteria for accounting for hedge transactions. After the completion of these three steps, the requirements for disclosure and presentation of financial instruments in the financial statements of publication or mandatory disclosure will be regulated.
The measures proposed are part of the efforts undertaken by BCB to promote the convergence of accounting regulation applicable to the National Financial System with the best internationally recognized best practices, in particular with IASB. This convergence consists of incorporating, into the Accounting Plan of the Institutions of the National Financial System (COSIF) of the international precepts, the IFRS 9 on financial instruments.
Related Links (in Portuguese)
Comment Due Date: October 05, 2018
Keywords: Americas, Brazil, Banking, Accounting, IFRS 9, Hedge Accounting, IASB, BCB
Previous Article
Elke König of SRB on EU Liquidation Regime and Gaps in Banking UnionRelated Articles
|
News
FDIC Consults on Approach to Resolution Planning for IDIsFDIC approved an Advance Notice of Proposed Rulemaking (ANPR) and is seeking comment on ways to tailor and improve its rule requiring certain insured depository institutions (IDIs) to submit resolution plans.
April 22, 2019
WebPage
Regulatory News
|
|
News
EP Resolution on Proposal for Sovereign Bond Backed SecuritiesThe European Parliament (EP) published adopted text on the proposal for a regulation of the European Parliament and of the Council on sovereign bond-backed securities (SBBS).
April 16, 2019
WebPage
Regulatory News
|
|
News
HKMA Decides to Maintain Countercyclical Capital Buffer at 2.5%HKMA announced that, in accordance with the Banking (Capital) Rules, the countercyclical capital buffer (CCyB) ratio for Hong Kong remains at 2.5%.
April 16, 2019
WebPage
Regulatory News
|
|
News
EP Approves Agreement on Package of CRD 5, CRR 2, BRRD 2, and SRMR 2The European Parliament (EP) approved the final agreement on a package of reforms proposed by EC to strengthen the resilience and resolvability of European banks.
April 16, 2019
WebPage
Regulatory News
|
|
News
PRA Finalizes Policy on Approach to Managing Climate Change RisksPRA published the policy statement PS11/19, which contains final supervisory statement (SS3/19) on enhancing banks’ and insurers’ approaches to managing the financial risks from climate change (Appendix).
April 15, 2019
WebPage
Regulatory News
|
|
News
PRA Seeks Input and Issues Specifications for Insurance Stress TestsPRA announced that it will conduct an insurance stress test for the largest regulated life and general insurers from July to September 2019.
April 15, 2019
WebPage
Regulatory News
|
|
News
EBA Single Rulebook Q&A: First Update for April 2019EBA published answers to nine questions under the Single Rulebook question and answer (Q&A) updates for this week.
April 12, 2019
WebPage
Regulatory News
|
|
News
FED Updates Form and Supplemental Instructions for FR Y-9C ReportingFED updated the form and supplemental instructions for FR Y-9C reporting. FR Y-9C is used to collect data from domestic bank holding companies, savings and loan holding companies, U.S intermediate holding companies, and securities holding companies with total consolidated assets of USD 3 billion or more.
April 11, 2019
WebPage
Regulatory News
|
|
News
EIOPA Statement on Application of Proportionality in SCR SupervisionEIOPA published a supervisory statement on the application of proportionality principle in the supervision of the Solvency Capital Requirement (SCR) calculated in accordance with the standard formula.
April 11, 2019
WebPage
Regulatory News
|
|
News
ISDA Publishes Statement on FRTB Implementation in Emerging MarketsISDA published a statement that outlines challenges in implementation of the new Basel III market risk standard for banks in emerging markets.
April 11, 2019
WebPage
Regulatory News
|
