BoE’s Taylor argues for solution to IFRS 9 ‘headache’


Bank of England official Martin Taylor urged his colleagues to change the way International Financial Reporting Standards are implemented, to avoid damage to crisis-hit banks.

The latest IFRS 9 standards are intended to make banks’ provision for losses, something the BoE supports, but in some circumstances that may cause problems, said Taylor. A bank that foresees losses too late or comes under too much pressure from its auditors could overestimate provisions “in the depths of a crisis”.

For

You are currently unable to copy this content. Please contact [email protected] to find out more.



Source link

Free Course

"Double Your Traffic in 30 days" + Secret Bonus

valued at $299

This amazing course will teach you, step by step, how to double if not triple your traffic over the next 30 days.

100% Privacy. We will never spam you!

Comments