Loan loss provisioning requirements under International Financial Reporting Standards (IFRS) differ significantly from the practices currently in force in those European countries that will be adopting IFRS from 1 January 2005, according to Moody’s. ‘The impact of the application of IFRS loan impairment methodology will vary not only from country to country but also from bank to bank within each country. We thus expect European banks to start communicating their views on the implications of IFRS on their loan loss provisions as soon as they are in a position to do so,’ explained Yaroslav Sovgyra, Vice-President, Senior Accounting Analyst at Moody’s. ‘In addition, while the IFRS loan loss provisioning requirements have some similarities with the Basel 2 Accord requirements for the calculation of credit risk capital charges, there are also some significant differences,’ said Sovgyra. Moody’s believes that a full convergence between these two sets of rules in the near future is necessary but likely to prove difficult.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more