International Financial Reporting Standards: IFRS 9

26.9.2016

Question for oral answer O-000115/2016
to the Commission
Rule 128
Roberto Gualtieri, on behalf of the Committee on Economic and Monetary Affairs

7 October 2016 will see the end of Parliament’s three-month scrutiny period for the Commission’s draft implementing measure for the International Financial Reporting Standard IFRS 9 (Financial Instruments).

1. How does the Commission intend to address concerns regarding potential negative effects of IFRS 9 on long-term investment?

2. How does the Commission intend to address the concerns caused by the misalignment of the effective dates of IFRS 9 and the new upcoming insurance standard (IFRS 17)? Does the Commission consider the provisions issued by the International Accounting Standards Board (IASB) on 12 September 2016 (amendments to IFRS 4) to be adequate and satisfactory for the EU, or does it intend to propose an additional optional solution for the EU?

3. How does the Commission intend to address the potential negative effects of IFRS 9 on financial stability, in particular as regards a potential downward impact in banks’ equity levels or concerns about potential effects related to procyclicality? What is the Commission’s view on the interaction of IFRS 9 with other types of financial regulation, e.g. prudential requirements?