IAS 30 — Disclosures in the Financial Statements of Banks and Similar Financial Institutions
History of IAS 30
|April 1987||Exposure Draft E29 Disclosures in Financial Statements of Banks|
|July 1989||Exposure Draft E29 was modified and re-exposed as Exposure Draft E34 Disclosures in Financial Statements of Banks and Similar Financial Institutions|
|August 1990||IAS 30 Disclosures in Financial Statements of Banks and Similar Financial Institutions|
|1 January 1991||Effective date of IAS 30 (1990)|
|1994||IAS 30 was reformatted|
|December 1998||IAS 30 was amended by IAS 39 Financial Instruments: Recognition and Measurement, effective 1 January 2001|
|18 August 2005||IAS 30 is superseded by IFRS 7 Financial Instruments: Disclosures effective 1 January 2007|
Amendments under consideration by the IASB
Summary of IAS 30
Objective of IAS 30
The objective of IAS 30 is to prescribe appropriate presentation and disclosure standards for banks and similar financial institutions (hereafter called 'banks'), which supplement the requirements of other Standards. The intention is to provide users with appropriate information to assist them in evaluating the financial position and performance of banks, and to enable them to obtain a better understanding of the special characteristics of the operations of banks.
Presentation and disclosure
A bank's income statement should group income and expenses by nature. [IAS 30.9]
A bank's income statement or notes should report the following specific amounts: [IAS 30.10]
- interest income
- interest expense
- dividend income
- fee and commission income
- fee and commission expense
- net gains/losses from securities dealing
- net gains/losses from investment securities
- net gains/losses from foreign currency dealing
- other operating income
- loan losses
- general administrative expenses
- other operating expenses.
A bank's balance sheet should group assets and liabilities by nature and list them in liquidity sequence. [IAS 30.18] IAS 30.19 sets out the specific line items requiring disclosure.
IAS 30.13 and IAS 30.23 include guidelines for the limited circumstances in which income and expense items or asset and liability items are offset.
A bank must disclose the fair values of each class of its financial assets and financial liabilities as required by IAS 32 and IAS 39. [IAS 30.24]
Disclosures are also required about:
- specific contingencies and commitments (including off-balance sheet items) requiring disclosure [IAS 30.26]
- specified disclosures for the maturity of assets and liabilities [IAS 30.30]
- concentrations of assets, liabilities and off-balance sheet items [IAS 30.40]
- losses on loans and advances [IAS 30.43]
- general banking risks [IAS 30.50]
- assets pledged as security [IAS 30.53].