Banks may need major overhaul to handle new disclosures, FSB task force says
Banks may have to make 'substantial changes' to cope with expected credit loss disclosures
New and more complex approaches to accounting for expected credit losses will require many banks to overhaul their systems, processes and governance, according to the Financial Stability Board's (FSB) Enhanced Disclosure Task Force (EDTF).
The EDTF is a private-sector group formed by the FSB to make non-binding recommendations for improving bank risk disclosures. As part of that work, the task force produced a report, published on December 7, on the impact of changes to accounting standards to
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