Doubts cast on Europe’s IFRS 9 transition period


Doubts have been raised over the usefulness of a transition period designed to mitigate the day one capital impact of new accounting rules, owing to the complexity of the European Union’s chosen approach.

International Financial Reporting Standard 9 (IFRS 9), which comes into force for European banks in January 2018, will upend current accounting convention by forcing banks to recognise expected losses on loans when the likelihood of the borrower defaulting increases materially. This is expecte

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