Accounting Provisioning Under the Expected Credit Loss Framework
In 2009, the G-20 in London recommended that accounting standard setters, strengthen accounting recognition of loan-loss provisions by incorporating a broader range of credit information (G20 2009). In response, the International Accounting Standards Board (IASB) issued International Financial Reporting Standard 9 (IFRS 9) in July 2014, it became effective in 2018. This paper relies on a survey and bilateral meetings with prudential supervisors. This paper deals with the expected credit loss framework, with a particular focus on EMDEs. In 2020, EMDEs were facing challenges when dealing with IFRS 9 during the Coronavirus (COVID-19) pandemic, given the unprecedented reversals in capital flows as global risk appetite declined. EMDEs are coping with weaker health care systems and more limited fiscal space to provide support. Based on the experience of the surveyed countries and their reflections on challenges and potential remedies that they used while implementing the IFRS 9 accounting framework, the authors identified a set of high level policy recommendations for prudential supervisors in emerging markets and developing economies (EMDEs) willing to transition to IFRS 9. The paper is organized as follows: Section 2 presents the survey results; Section 3 presents policy recommendations for supervisory authorities in countries that implemented IFRS 9 as well as in countries that are still in the process of IFRS 9 implementation; and Section 4 offers conclusions.
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Format: | Report biblioteca |
Language: | English |
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World Bank, Washington, DC
2021
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Subjects: | INTERNATIONAL FINANCIAL REPORTING STANDARDS, ACCOUNTING STANDARDS, BASEL COMMITTEE ON BANKING SUPERVISION, LOAN LOSS PROVISION, PRUDENTIAL REGULATIONS, FINANCIAL OVERSIGHT, |
Online Access: | http://documents.worldbank.org/curated/en/700511616757978211/Accounting-Provisioning-Under-the-Expected-Credit-Loss-Framework-IFRS-9-in-Emerging-Markets-and-Developing-Economies-A-Set-of-Policy-Recommendations https://hdl.handle.net/10986/35373 |
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dig-okr-10986353732024-08-07T18:23:58Z Accounting Provisioning Under the Expected Credit Loss Framework IFRS 9 in Emerging Markets and Developing Economies - A Set of Policy Recommendations Caruso, Ezio D'Hulster, Katia Kliatskova, Tatsiana Ortiz, Juan INTERNATIONAL FINANCIAL REPORTING STANDARDS ACCOUNTING STANDARDS BASEL COMMITTEE ON BANKING SUPERVISION LOAN LOSS PROVISION PRUDENTIAL REGULATIONS FINANCIAL OVERSIGHT In 2009, the G-20 in London recommended that accounting standard setters, strengthen accounting recognition of loan-loss provisions by incorporating a broader range of credit information (G20 2009). In response, the International Accounting Standards Board (IASB) issued International Financial Reporting Standard 9 (IFRS 9) in July 2014, it became effective in 2018. This paper relies on a survey and bilateral meetings with prudential supervisors. This paper deals with the expected credit loss framework, with a particular focus on EMDEs. In 2020, EMDEs were facing challenges when dealing with IFRS 9 during the Coronavirus (COVID-19) pandemic, given the unprecedented reversals in capital flows as global risk appetite declined. EMDEs are coping with weaker health care systems and more limited fiscal space to provide support. Based on the experience of the surveyed countries and their reflections on challenges and potential remedies that they used while implementing the IFRS 9 accounting framework, the authors identified a set of high level policy recommendations for prudential supervisors in emerging markets and developing economies (EMDEs) willing to transition to IFRS 9. The paper is organized as follows: Section 2 presents the survey results; Section 3 presents policy recommendations for supervisory authorities in countries that implemented IFRS 9 as well as in countries that are still in the process of IFRS 9 implementation; and Section 4 offers conclusions. 2021-04-05T19:13:14Z 2021-04-05T19:13:14Z 2021 Report Rapport Informe http://documents.worldbank.org/curated/en/700511616757978211/Accounting-Provisioning-Under-the-Expected-Credit-Loss-Framework-IFRS-9-in-Emerging-Markets-and-Developing-Economies-A-Set-of-Policy-Recommendations https://hdl.handle.net/10986/35373 English Equitable Growth, Finance and Institutions Insight; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank application/pdf text/plain World Bank, Washington, DC |
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INTERNATIONAL FINANCIAL REPORTING STANDARDS ACCOUNTING STANDARDS BASEL COMMITTEE ON BANKING SUPERVISION LOAN LOSS PROVISION PRUDENTIAL REGULATIONS FINANCIAL OVERSIGHT INTERNATIONAL FINANCIAL REPORTING STANDARDS ACCOUNTING STANDARDS BASEL COMMITTEE ON BANKING SUPERVISION LOAN LOSS PROVISION PRUDENTIAL REGULATIONS FINANCIAL OVERSIGHT |
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INTERNATIONAL FINANCIAL REPORTING STANDARDS ACCOUNTING STANDARDS BASEL COMMITTEE ON BANKING SUPERVISION LOAN LOSS PROVISION PRUDENTIAL REGULATIONS FINANCIAL OVERSIGHT INTERNATIONAL FINANCIAL REPORTING STANDARDS ACCOUNTING STANDARDS BASEL COMMITTEE ON BANKING SUPERVISION LOAN LOSS PROVISION PRUDENTIAL REGULATIONS FINANCIAL OVERSIGHT Caruso, Ezio D'Hulster, Katia Kliatskova, Tatsiana Ortiz, Juan Accounting Provisioning Under the Expected Credit Loss Framework |
description |
In 2009, the G-20 in London recommended
that accounting standard setters, strengthen accounting
recognition of loan-loss provisions by incorporating a
broader range of credit information (G20 2009). In response,
the International Accounting Standards Board (IASB) issued
International Financial Reporting Standard 9 (IFRS 9) in
July 2014, it became effective in 2018. This paper relies on
a survey and bilateral meetings with prudential supervisors.
This paper deals with the expected credit loss framework,
with a particular focus on EMDEs. In 2020, EMDEs were facing
challenges when dealing with IFRS 9 during the Coronavirus
(COVID-19) pandemic, given the unprecedented reversals in
capital flows as global risk appetite declined. EMDEs are
coping with weaker health care systems and more limited
fiscal space to provide support. Based on the experience of
the surveyed countries and their reflections on challenges
and potential remedies that they used while implementing the
IFRS 9 accounting framework, the authors identified a set of
high level policy recommendations for prudential supervisors
in emerging markets and developing economies (EMDEs) willing
to transition to IFRS 9. The paper is organized as follows:
Section 2 presents the survey results; Section 3 presents
policy recommendations for supervisory authorities in
countries that implemented IFRS 9 as well as in countries
that are still in the process of IFRS 9 implementation; and
Section 4 offers conclusions. |
format |
Report |
topic_facet |
INTERNATIONAL FINANCIAL REPORTING STANDARDS ACCOUNTING STANDARDS BASEL COMMITTEE ON BANKING SUPERVISION LOAN LOSS PROVISION PRUDENTIAL REGULATIONS FINANCIAL OVERSIGHT |
author |
Caruso, Ezio D'Hulster, Katia Kliatskova, Tatsiana Ortiz, Juan |
author_facet |
Caruso, Ezio D'Hulster, Katia Kliatskova, Tatsiana Ortiz, Juan |
author_sort |
Caruso, Ezio |
title |
Accounting Provisioning Under the Expected Credit Loss Framework |
title_short |
Accounting Provisioning Under the Expected Credit Loss Framework |
title_full |
Accounting Provisioning Under the Expected Credit Loss Framework |
title_fullStr |
Accounting Provisioning Under the Expected Credit Loss Framework |
title_full_unstemmed |
Accounting Provisioning Under the Expected Credit Loss Framework |
title_sort |
accounting provisioning under the expected credit loss framework |
publisher |
World Bank, Washington, DC |
publishDate |
2021 |
url |
http://documents.worldbank.org/curated/en/700511616757978211/Accounting-Provisioning-Under-the-Expected-Credit-Loss-Framework-IFRS-9-in-Emerging-Markets-and-Developing-Economies-A-Set-of-Policy-Recommendations https://hdl.handle.net/10986/35373 |
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