FASB issued a question-and-answer document (Q&A) that responds to frequently asked questions about the application of the US GAAP financial reporting taxonomy to disclosures related to the effects of COVID-19 and relief efforts. The Q&A addresses the application of the GAAP taxonomy to disclosures in the areas of income taxes, payroll taxes, loans, grants, pensions, and overall discussion of the COVID-19 pandemic. The FASB staff developed this Q&A to on the basis of the to date information and feedback received. The FASB taxonomy staff will continue to monitor this unique and evolving situation and communicate additional application of the taxonomy, as appropriate.
Keywords: Americas, US, Banking, Accounting, Pensions, Taxonomy, Q&A, COVID-19, US GAAP, Reporting, Disclosures, CARES Act, Paycheck Protection Program, FASB
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ECB published a decision allowing the euro area banks under its direct supervision to exclude certain central bank exposures from the leverage ratio.
ESAs launched a survey seeking feedback on the presentational aspects of product templates under the Sustainable Finance Disclosure Regulation (SFDR or Regulation 2019/2088).
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FED released hypothetical scenarios for a second round of stress tests for banks.
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