OJK issued guidelines for accounting treatment of the application of Statement of Financial Accounting Standards (PSAK) 71 on financial instruments and PSAK 68 on fair value measurement. OJK has requested banks to comply with and implement OJK Regulation No. 11/POJK.03/2020 and to proactively identify debtors that have been affected by the COVID-19 outbreak. OJK had published this regulation in March 2020 and the regulation covers economic policy for debtors to support the performance and growth of debtors, including micro, small, and medium enterprises debtors, impacted by the COVID-19 pandemic. The regulation consists of policies related to asset quality determination and credit or "financing" restructuring.
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Keywords: Asia Pacific, Indonesia, Banking, COVID-19, IFRS 9, PSAK-71, Financial Instruments, Accounting, SME, OJK
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BoE published a statistical notice (Notice 2020/9) explaining the approach for treatment of payment holidays on the profit and loss return or Form PL.
BoE updated the known issues document for the statistical reporting Forms AS and FV.
FED announced individual capital requirements for 34 large banks and these requirements go into effect on October 01, 2020.
SRB published a set of documents to give operational guidance to banks on implementation of the bail-in tool.
BIS published an update on the G20 TechSprint Initiative, which was launched in April 2020 and aims to highlight the potential for technologies to resolve regulatory compliance (regtech) and supervisory (suptech) challenges.
OSFI published a letter that provides an update on the milestones for the implementation of the IFRS 17 standard on insurance contracts.
EBA updated the report on the implementation of selected COVID-19 policies.
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.