Banking Disclosure
Date recorded:
Staff made a presentation on the progress of the steering committee on IAS 30. The IAS 30 Steering Committee believes that a separate Standard for banks and similar financial institutions should remain and that increased guidance will have big benefits. Reasons to revise IAS 30:
Eliminate redundancies with other IAS
- Offsetting requirements - IAS 32
- Fair value disclosure - IAS 32
- Related party disclosure - IAS 24
- Loan loss recognition - IAS 39
- Balance sheet disclosures
- Income statement disclosures - including loan loss
- Off balance sheet exposure
- Trust activities
Raise Disclosure Level of Banking Activities Within IAS/IFRS
Two key disclosure areas are were discussed, based on suggestions from regulatory and user bodies. Note these requirements already exist in many countries:
- Risk management and exposure
- Regulatory capital adequacy
- Credit risk exposure
- Other risk exposures
- Risk management policies
- Capital adequacy