Fifth Global IFRS Banking Survey
Finding your way
This fifth edition of the Global IFRS Banking survey focuses on the expected credit loss implementation challenges that banks will have to face and seeks to provide clients, regulators and the wider market with insights into current thinking across the sector.
The survey summarizes the responses of 59 of the world’s major banking groups, including 17 global systemically important financial institutions. Key findings include:
- Three quarters of banks surveyed expect bank accounts to be more useful for regulators under the new rules.
- Two-fifths of banks surveyed believe banking supervisors would be most influential in interpreting the new rules, with a third expecting auditors to be key.
- Total anticipated implementation budgets have doubled in the year since the previous survey.
- Three-fifths of banks think they do not have enough technical resources to deliver their IFRS 9 / FASB CECL project, and a quarter of these further doubt that there will be sufficient skills available in the market to cover any shortfall.
A summary of the report is being released first. The full report will be available later.