Regulatory Alerts2018-04-12
Added · Updated
Responding to banks’ inquiries regarding the pilot application of the IFRS9 standard
The document clarifies that banks must prepare a new Statement of Comprehensive Income (OCI) for their pilot financial statements starting March 2018. It specifies that the General Credit Risk Provision will be adjusted quarterly based on an internal bank calculation involving IFRS 9 provisions and other reserves, with debit balances retained within equity. Banks are instructed to refer to specific circulars for implementation procedures and to consult their auditors regarding disclosure requirements.
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