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Fourth global IFRS banking survey
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Conducted over a critical period in the development of IFRS 9 this annual survey provides insights into current thinking across the sector.
Building on the last three surveys, this edition includes contributions from 54 of the world’s major banking groups and global systemically important financial institutions (G-SIFIs).
Key findings from the report include:
- Banks will require 3 years to implement IFRS 9, so will come under pressure with a 2018 effective date
- 56% of banks surveyed feel that pricing will be affected by accounting change
- 70% of banks surveyed expect their IFRS 9 expected loss to be higher than current regulatory expected loss
- Coordination of internal stakeholders and resource constraints are key IFRS 9 implementation challenges.