Regulatory Alerts2020-10-28
Added · Updated
Circular to Credit Institutions on the EBA Guidelines on uniform disclosures under Article 473a of Regulation (EU) No 575/2013 as regards transitional arrangements for mitigating the impact of the introduction of IFRS 9 on own funds, and the amendments thereto
Credit institutions licensed under the Banking Act (Cap. 371 of the Laws of Malta) are required to refer to the European Banking Authority Guidelines (EBA/GL/2018/01) and their amendments regarding COVID-19 when fulfilling disclosure obligations for own funds, capital, and leverage ratios. These guidelines mandate the use of a uniform disclosure template to present data with and without the application of transitional arrangements for IFRS 9 or analogous expected credit losses. The requirement applies to institutions deciding to apply temporary measures introduced by Regulation (EU) 2020/873 to enhance credit flows.
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