Letter from PRA on IFRS 9 ECL to Systemically Important banks

Friday, January 18, 2019

ChartAcc.com - Victoria Saporta, Executive Director, Prudential Policy, Prudential Regulation Authority, recently sent a letter to major banks for disclosures on Expected Credit Loss under IFRS 9.


The letter was addressed on two concerns as follows:
  • Measurement uncertainty and sensitivity:
    • To enable and produce the quantitative information about that sensitivity internally
    • To report quantitative measurement uncertainty and sensitivity information from their 2018 (or 2018/2019) annual reports and accounts
  • The use of Monte Carlo approaches:
    • Firms' concern was the difficult of using above mentioned approach
    • PRA concluded that few other firms are using so all are expected to provide comprehensive and appropriately focused way and at an appropriate level of granularity.
The 7 banks were addressed this letter which are as follows:

  • Barclays plc, 
  • HSBC Holdings plc, 
  • Lloyds Banking Group plc, 
  • Nationwide Building Society,
  • Santander UK plc, 
  • Standard Chartered PLC and 
  • The Royal Bank of Scotland Group plc.

Courtsey: PRA

#UnionBudget 2015-16 major proposed changes #ChartAcc #Budget Sharespace for Chartered Accountats
Budget 2015 
ChartAcc.com 

Stay connected to ChartAcc, a professional ShareSpace.

0 comments:

ChartAcc Logo by Vikrmn CA Vikram Verma Vikrmn.com
CHARTACC
Share space for Chartered Accountants
and Financial Professionals

Novel by a Chartered Accountant

10 Alone

A novel by Vikrmn (CA Vikram Verma)

a saga of 10 friends.. 10 Dreams.. 10 hearts.. 10 Minds..

It's a story of 10 Chartered Accountants.. who celebrate personal and professional life.. all together.. Ten Together..

www.10Alone.com | www.Vikrmn.com