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FSB reports to G20 on financial regulatory reforms

  • FSB (Financial Stability Board) (lt green) Image
  • G20 (lt green) Image

01 Sep 2016

Ahead of the Group of Twenty (G20) meeting in China on 4-5 September 2016, the Financial Stability Board (FSB) has published a report on the 'Implementation and Effects of the G20 Financial Regulatory Reforms'. The report also briefly considers international accounting convergence, especially as regards expected loan loss provisioning.

It notes that convergence has not been achieved:

The international and US accounting standard setters have issued separate standards on expected loan loss provisioning (to come into force in 2018 and 2020 respectively), both of which are forward-looking and take account of the lessons of the crisis. These standards have not converged, and the FSB has asked the standard-setters to monitor their consistent implementation and to continue to seek opportunities for meeting the G20’s call for further accounting convergence.

Please click for the full report on the FSB website.

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