Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Looming IFRS Rule Could Drive Increased Loan-Loss Provisions

Roberta Holland | June 25, 2014

Banks are predicting that the planned revisions to international accounting standards will have a significant impact on the way they handle loan loss provisioning, according to a recent survey by Deloitte.

Deloitte's Fourth Global IFRS Banking Survey revealed that more than half of the financial institutions polled believe the changes to International Financial Reporting Standards 9, covering financial instruments, could force their loan loss provisions to increase by as much as 50 percent.  Respondents also believe banks may have to boost the amount of capital they hold in reserve as a result of the new requirements. Roughly 70 percent expect the revised requirements to go further than the...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.