Deloitte has issued its Third Global IFRS Banking Survey — Still far from land?, summarising the responses of 70 of the world’s major banking groups, including 19 global systemically important financial institutions (G-SIFI’s) and highlighting the key findings such as:

• Whilst there is still significant support  for the convergence process amongst banks, the majority surveyed consider the IASB and FASB are no longer on track to achieve this;
• Banks are putting their implementation efforts on standby as the process continues to be subject to delay;
• There is uncertainty about the ultimate outcome of financial instruments accounting change with an increase in the number of banks considering that the new requirements cannot be implemented in a way that will increase comparability between banks internationally; and
• The capital and pricing impacts of changes such as impairment, debt valuation adjustments and the treatment of liquidity portfolios will be significant.

See also:

• The first survey conducted in August 2011: IFRS 9 Impairment Survey 2011 – A changing landscape
• The second survey conducted in March 2012: Global IFRS Banking Survey – Q1 2012 A changing landscape

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