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EBA reports on results of the second impact assessment of IFRS 9

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Jul 13, 2017

On July 13, 2017, the European Banking Authority (EBA) published a report on the results of its second impact as­sess­ment of IFRS 9 'Financial In­stru­ments'. For the report, EBA looked at a sample of ap­prox­i­mately 50 in­sti­tu­tions across the European Union.

The exercise, which follows up on the first impact as­sess­ment published in November 2016, has confirmed the EBA's initial ob­ser­va­tions on the stage of prepa­ra­tion for the im­ple­men­ta­tion of IFRS 9 and the estimated impact of IFRS 9 on reg­u­la­tory own funds.

On the qual­i­ta­tive side, the report high­lights that banks have made further progress on the im­ple­men­ta­tion of IFRS 9 since the previous exercise, but smaller banks are still lagging behind in their prepa­ra­tion compared with larger banks. On the quan­ti­ta­tive side, the responses received show that the estimated impact of IFRS 9 is mainly driven by IFRS 9 im­pair­ment re­quire­ments. The estimated increase of pro­vi­sions is on average 13% compared to the current levels of pro­vi­sions under IAS 39.

The full report can be accessed on the EBA website.

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