2020-11-11

FINMA Circular 2020/1 Accounting – Banks

FINMA issued Circular 2020/1 to establish accounting and disclosure practices for banks, securities houses, financial groups, and conglomerates, aligning them with the FINMA Accounting Ordinance. The document details specific recognition rules for financial instruments, hedging, provisions, and reserves, while also addressing statutory and true and fair view individual and consolidated financial statements. It supersedes previous guidance and includes transitional provisions allowing the 2020 financial year to follow prior standards if desired.

Switzerland

Swiss Financial Market Supervisory Authority

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