Regulatory Alerts2018-04-09
Communications - Application of transitional provisions on IFRS 9 to financial intermediaries under Article 106 TUB
The Bank of Italy extends the transitional regime for IFRS 9 implementation, originally established for banks under the Capital Requirements Regulation, to financial intermediaries registered under Article 106 of the TUB. This measure allows these entities to spread the impact on own funds over a five-year period from 2018 to 2022 to mitigate sudden effects on prudential requirements. Affiliated intermediaries and group parent companies must notify the Bank of Italy of their choice to apply or exclude the transitional rules within 30 days of the measure's publication.
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