Accounts
FSI paper offers lessons from Asia for IFRS 9 transition
Jurisdictions may wish to draw on Asian approach to provisioning when moving to IFRS 9
Banks ‘still groping toward’ macro-pru transparency – Eichengreen
Central bank governance expert says central bank transparency is getting better around the world, although New Zealand, Argentina and some Central American institutions could make improvements
Riksbank outlines three visions of ‘e-krona’
Sweden’s central bank presents three cryptocurrency models as a solution to the payments conundrum
Banks are scrambling to hit IFRS 9 deadline – survey
Many banks appear to have been caught off-guard by the complexity of adapting to IFRS 9; impact assessments still patchy, but some see provisioning needs up by 40% or more
Fed issues guidelines for joint accounts with private banks
Initiative aims to create more efficient US payments system
EBA study quantifies impact of IFRS 9
Report finds smaller banks are likely to see a heavier capital impact from new accounting rules; Basel Committee paper says a mix of forward- and backward-looking rules may work best
MAS’s Menon plays down record profit figure
The record-breaking profit was due to strong positive currency translation effects and higher investment gains
Banks mull dedicated IFRS 9 capital buffers
Volatility of loan-loss provisioning from new accounting standard demands additional own-funds protection, say banks
Riksbank urges government to amend profit allocation plans
General Council welcomes clarity in proposal but says it must have the power to request recapitalisation
Basel Committee to retain provisioning treatment as IFRS 9 launches
Committee admits differences across countries are likely to remain in the interim, while it works to design a new approach to the regulatory treatment of expected credit losses
Norges Bank increases staffing in 2016
Annual report shows 8% increase in staff levels, as well as changes to the governance structure; central bank makes a slight loss due to exchange rate movements
Market discipline stems Level 3 asset manipulation – paper
Bank of England paper shows link between low capital ratios and Level 3 assets between 2008–2013, but market discipline moderates the impact from accounting discretion
Bank of Mexico launches cost-cutting drive
Central bank move follows government austerity drive, and includes a target of a 10% cut to the wage bill
Basel set to decide on capital relief for accounting changes
Phase-in to IFRS 9 and Cecl needed to avert "a dramatic overnight drop in regulatory capital", say auditors
Stronger 2016 profit helps SNB rebuild reserves
Profitable year helps central bank repair its distribution reserve after losses in 2015, though profits appear to have slipped slightly in the fourth quarter
Riksbank’s Flodén warns QE dividends may not continue
Quantitative easing has generated profits so far, but the central bank is likely to incur losses in future, deputy governor warns; purchases amount to maturity transformation and therefore carry risk
Basel Committee outlines plans for ‘fundamental change’ of IFRS 9
Task force to consider impact of expected credit loss approach on regulatory capital, while consultation lays out interim plans
IFRS 9 deadline looms
The successful implementation of new accounting rules for financial instruments requires urgent attention and leadership from frontline departments. It should not be left solely to the accountants
Sri Lankan central bank defends governor expenses
Central bank incurs around $663,000 in travel expenses in 2015 as governor and central bank staff attend a number of international financial meetings
BoE paper seeks unified global approach to NPLs
A multidisciplinary approach to legal, accounting, statistical, economic and strategic elements of loan loss provisioning and NPLs
Banks may need major overhaul to handle new disclosures, FSB task force says
Many banks will need to make ‘substantial changes’ to systems and processes to cope with new and more complex standards on accounting for expected credit losses, report finds
Retail banking investigation findings criticised by MP
First report from investigation on retail banking criticised by Andrew Tyrie for its findings on ‘free-if-in-credit’ model for current accounts
Sarb deputy hails role of accountants in South African recovery
François Groepe tells new cadre of chartered accountants that they have an important role in ensuring ‘structural challenges' are addressed effectively
Solid financial accounts can help central banks meet their mandates – CBP roundtable
The manner that central banks manage and present their financial accounts is becoming critical to them achieving their mandates, according to a CBP working group.