The International Accounting Standards Board (IASB) is requesting feedback as part of the post-implementation review of the classification and measurement requirements (along with the related disclosures) in the financial instruments standard IFRS 9. IASB will consider all written comments received by January 28, 2022. Later, IASB will seek feedback separately on the impairment requirements and hedge accounting requirements, when more information is available about the effects of the application of those sections.
IASB issued the completed version of IFRS 9 in 2014, combining the classification and measurement as well as the impairment and hedge accounting phases of its project to replace and improve on the IAS 39 standard on recognition and measurement of financial instruments. IFRS 9 specifies how a company is required to classify and measure financial assets and financial liabilities as well as some contracts to buy or sell non-financial items. IFRS 9 has been in effect since 2018. IASB undertakes a post-implementation review of each new IFRS standard or major amendment to a standard after companies have applied it for at least two years. These reviews offer IASB the opportunity to assess the effect of the new requirements on companies, investors, auditors, and regulators. After analyzing feedback from these reviews, IASB will decide whether to take any further actions. The actions can include providing educational materials or doing more research for possible standard-setting. At the end of this analysis, IASB will summarize and explain its responses to the feedback.
Comment Due Date: January 28, 2022
Keywords: International, Banking, IFRS 9, IAS 39, Financial Instruments, IFRS 7, Post-Implementation Review, Credit Risk, Disclosures, IASB
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.
The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.
The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).
The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.
The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.
The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)
The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.
The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.
The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)
The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.