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Impact of IFRS on European banks – ECB views

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18 Feb 2004

The February 2004 edition of the Monthly Bulletin of the European Central Bank (ECB) includes a 13-page article on The Impact of Fair Value Accounting on the European Banking Sector.

The article presents "an overview of the current debate" and expresses ECB's views about "how exogenous shocks to the banking sector are likely to manifest themselves in banks' financial statements under the new rules." Click to (PDF 1,475k – see pages 70-83). Also, in an address to a plenary session of the European Parliament on 16 February 2004, Jean-Claude Trichet, president of the ECB, spoke about what he views as significant negative consequences of recognising financial instruments at fair values.

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