Featured Product

    BCB Consults on Hedge Accounting Criteria Related to IFRS 9

    September 05, 2018

    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

    Featured Experts
    Related Articles
    News

    EC to Defer Application of SFDR Standards Till July 2022

    The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.

    July 23, 2021 WebPage Regulatory News
    News

    BoE Consults on Approach to Setting MREL, Publishes Bail-In Guidance

    The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.

    July 22, 2021 WebPage Regulatory News
    News

    EBA Seeks Views on Proportionality Assessment Methodology

    The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.

    July 22, 2021 WebPage Regulatory News
    News

    US Agencies Propose Changes to Call Reports and Instructions

    Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.

    July 22, 2021 WebPage Regulatory News
    News

    PRA Finalizes Rulebook Definition of Higher Paid Material Risk-Taker

    The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.

    July 21, 2021 WebPage Regulatory News
    News

    EBA Examines Asset Encumbrance in Banking Sector

    The European Banking Authority (EBA) published its annual report on asset encumbrance in banking sector.

    July 21, 2021 WebPage Regulatory News
    News

    EBA Publishes Methodological Guide to Mystery Shopping

    The European Banking Authority (EBA) published a methodological guide to mystery shopping.

    July 21, 2021 WebPage Regulatory News
    News

    APRA Issues Update on Capital Reform Policy Settings for Banks

    The Australian Prudential Regulation Authority (APRA) released a letter to authorized deposit-taking institutions to provide an update on key policy settings for the capital framework reforms, which will come into effect from January 01, 2023.

    July 21, 2021 WebPage Regulatory News
    News

    CPMI-IOSCO Assess Continuity Planning of Market Infrastructures

    The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report that assesses the business continuity planning activities of financial market infrastructures or FMIs.

    July 21, 2021 WebPage Regulatory News
    News

    ESMA Responds to Proposal Related to Sustainability Standards Board

    The European Securities and Markets Authority (ESMA) has responded to the IFRS consultation on targeted amendments to the IFRS Foundation constitution to accommodate an International Sustainability Standards Board (ISSB) to set IFRS Sustainability Standards.

    July 21, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7283