20

αποτέλεσμα(ατα)

Λέξη (-εις)
Τύπος δημοσίευσης
Τομέας πολιτικής
Συντάκτης
Λέξη κλειδί
Ημερομηνία

Provisioning policies for non-performing loans: How to best ensure a “clean balance sheet”?

16-11-2017

In view of a regular public hearing with the Chair of the Supervisory Board of the ECB in ECON on 9 November 2017, some academic experts for banking supervision were asked to assess which provisioning practices best ensure from a prudential perspective that banks present “sound and clean balance sheets” that do not carry uncovered or hidden losses. Some of the points raised by the experts in their briefing papers are highlighted in the following summary.

In view of a regular public hearing with the Chair of the Supervisory Board of the ECB in ECON on 9 November 2017, some academic experts for banking supervision were asked to assess which provisioning practices best ensure from a prudential perspective that banks present “sound and clean balance sheets” that do not carry uncovered or hidden losses. Some of the points raised by the experts in their briefing papers are highlighted in the following summary.

Implementation of the UN Guiding Principles on Business and Human Rights

06-01-2017

This study reviews the progress of implementation of the UN Guiding Principles on Business and Human Rights (UNGPs) in non-EU countries, five years after their unanimous adoption by the United Nations Human Rights Council in 2011. Much progress has already been achieved, with i.a. relevant key international standards like OECD Guidelines for Multinational Enterprises becoming aligned with the UNGPs, new tools being developed to provide guidance to governments and stakeholders and a basis being set ...

This study reviews the progress of implementation of the UN Guiding Principles on Business and Human Rights (UNGPs) in non-EU countries, five years after their unanimous adoption by the United Nations Human Rights Council in 2011. Much progress has already been achieved, with i.a. relevant key international standards like OECD Guidelines for Multinational Enterprises becoming aligned with the UNGPs, new tools being developed to provide guidance to governments and stakeholders and a basis being set for constructive discussion. This led to increased awareness and better understanding, building trust and engagement among various stakeholders. Yet, despite all efforts, business-related human rights abuse is still a serious problem. Further implementation of the UNGPs and related instruments is thus necessary, with special emphasis needed on access to remedy and justice for victims of business-related abuses. Less declaration and more real political will is needed, as states’ commitments to develop National Action Plans implementing the Guiding Principles have been far too slow to materialise, with only twelve NAPs being launched to date. Yet, the number of ongoing processes is promising, particularly in South America, although we have yet to see how meaningful and future action oriented their outcomes will be.

Εξωτερικός συντάκτης

Beata FARACIK, Human Rights Expert, President of the Board, Polish Institute for Human Rights and Business, Poland

Information on IFRS (International Accounting Standards)

01-09-2016

International Financial Reporting Standards (IFRS) are issued by an international private organisation, the International Accounting Standards Board (IASB). The EU has to endorse IFRS 'as they are' in order to be fully compliant. Non-endorsement or carve-outs are possible, but EU firms have still to comply with the full IFRS if they want to benefit from IFRS’ global acceptance, e.g. in the US, permitting a European company to use IFRS only without the need to adapt the accounting to national generally ...

International Financial Reporting Standards (IFRS) are issued by an international private organisation, the International Accounting Standards Board (IASB). The EU has to endorse IFRS 'as they are' in order to be fully compliant. Non-endorsement or carve-outs are possible, but EU firms have still to comply with the full IFRS if they want to benefit from IFRS’ global acceptance, e.g. in the US, permitting a European company to use IFRS only without the need to adapt the accounting to national generally accepted accounting principles (national GAAP).One important draft standard under discussion is IFRS 9 prescribing how financial instruments are accounted for. It shall replace the current standard (IAS 39) which was criticised for not taking declining values of financial assets during the financial crisis adequately into account. This leaflet lists the publications which have been prepared for the discussion of IFRS.

IFRS Accounting Standards Endorsement Procedure

16-05-2016

International Financial Reporting Standards (IFRS) are issued by an international private organisation, the International Accounting Standards Board (IASB). In order to become binding law in the EU, they must be ‘endorsed’ in a specific procedure prescribed in Article 3(1) and 6 Regulation No 1606/2002 and Articles 5a(1)-(4) and Article 10-11 Council Decision 1999/468/EC, i.e. the ‘Regulatory Procedure with Scrutiny’. All standards and interpretations are adopted as Commission Regulations to have ...

International Financial Reporting Standards (IFRS) are issued by an international private organisation, the International Accounting Standards Board (IASB). In order to become binding law in the EU, they must be ‘endorsed’ in a specific procedure prescribed in Article 3(1) and 6 Regulation No 1606/2002 and Articles 5a(1)-(4) and Article 10-11 Council Decision 1999/468/EC, i.e. the ‘Regulatory Procedure with Scrutiny’. All standards and interpretations are adopted as Commission Regulations to have directly binding effect without the need for national implementation.

The Basis of the Endorsement Procedure for IFRS Accounting Standards

16-05-2016

international Financial Reporting Standards (IFRS) are issued by an international private organisation, the International Accounting Standards Board (IASB). In order to become binding law in the EU, they must be ‘endorsed’ in a specific procedure prescribed in Article 3(1) and 6 Regulation No 1606/2002 and Articles 5a(1)-(4) and Articles 10-11 Council Decision 1999/468/EC, i.e. the ‘Regulatory Procedure with Scrutiny’. All standards and interpretations are adopted as Commission Regulations to have ...

international Financial Reporting Standards (IFRS) are issued by an international private organisation, the International Accounting Standards Board (IASB). In order to become binding law in the EU, they must be ‘endorsed’ in a specific procedure prescribed in Article 3(1) and 6 Regulation No 1606/2002 and Articles 5a(1)-(4) and Articles 10-11 Council Decision 1999/468/EC, i.e. the ‘Regulatory Procedure with Scrutiny’. All standards and interpretations are adopted as Commission Regulations to have directly binding effect without the need for national implementation.

The Role of the OECD in Shaping EU Trade Policy

28-01-2016

The EU's trade policy does not exist in a vacuum. On the one hand, it is affected by international standard and rule-setting. On the other hand, the EU is itself an influential actor shaping the international trade agenda by participating in the work of international organisations and fora. This short note focuses on the Organisation for Economic Cooperation and Development (OECD).

The EU's trade policy does not exist in a vacuum. On the one hand, it is affected by international standard and rule-setting. On the other hand, the EU is itself an influential actor shaping the international trade agenda by participating in the work of international organisations and fora. This short note focuses on the Organisation for Economic Cooperation and Development (OECD).

The Implications of International Economic and Financial Governance Agenda for EU Trade and Investment Policy

09-12-2015

Many of the rules, norms, principles and practices that are central to EU trade and investment policy today have been influenced by a wide range of different types of international organisations (IOs). This influence occurs through formal rulemaking, voluntary codes of conduct or standards, the provision of technical and scientific expertise or the dissemination of research and best practice. The influence is pervasive and decisions taken years ago in IOs can shape EU trade policy today. With the ...

Many of the rules, norms, principles and practices that are central to EU trade and investment policy today have been influenced by a wide range of different types of international organisations (IOs). This influence occurs through formal rulemaking, voluntary codes of conduct or standards, the provision of technical and scientific expertise or the dissemination of research and best practice. The influence is pervasive and decisions taken years ago in IOs can shape EU trade policy today. With the difficulties facing multilateral approaches to rulemaking in the World Trade Organisation (WTO) the impact of other IOs has increased.

IFRS Endorsement Criteria in Relation to IFRS 9

15-10-2015

IAS Regulation 1606/2002 introduces three criteria for the endorsement of an international accounting standard, a ‘true and fair view’ criterion, qualitative criteria, and a ‘European public good’ criterion. In this study, these criteria are described against the background of European accounting law and academic accounting research. Then, the paper evaluates whether the new IFRS 9 standard on accounting for financial instruments meets these criteria. We conclude that the standard cannot reasonably ...

IAS Regulation 1606/2002 introduces three criteria for the endorsement of an international accounting standard, a ‘true and fair view’ criterion, qualitative criteria, and a ‘European public good’ criterion. In this study, these criteria are described against the background of European accounting law and academic accounting research. Then, the paper evaluates whether the new IFRS 9 standard on accounting for financial instruments meets these criteria. We conclude that the standard cannot reasonably be rejected on grounds of the IAS Regulation. This study was prepared by Policy Department A at the request of the Committee on Economic and Monetary Affairs.

Εξωτερικός συντάκτης

Jannis BISCHOF and Holger DASKE (University of Mannheim, Germany)

The Significance of IFRS 9 for Financial Stability and Supervisory Rules

15-10-2015

This paper examines the interaction of the IFRS 9 expected credit loss model with supervisory rules and discusses potential implications for financial stability. IFRS 9 is more closely aligned with bank supervision, incorporates earlier and larger impairment allowances, and thus, is likely to mitigate the procyclical tendencies of the IAS 39 incurred loss approach. Combined with improved transparency, IFRS 9 might enhance financial stability. However, the potential benefits of the standard will crucially ...

This paper examines the interaction of the IFRS 9 expected credit loss model with supervisory rules and discusses potential implications for financial stability. IFRS 9 is more closely aligned with bank supervision, incorporates earlier and larger impairment allowances, and thus, is likely to mitigate the procyclical tendencies of the IAS 39 incurred loss approach. Combined with improved transparency, IFRS 9 might enhance financial stability. However, the potential benefits of the standard will crucially depend on its proper and consistent application. This document was provided by Policy Department A at the request of the ECON Committee.

Impairments of Greek Government Bonds under IAS 39 and IFRS 9: A Case Study

15-10-2015

IFRS 9 introduces new impairment rules responding to the G20 critique that IAS 39 results in the delayed and insufficient recognition of credit losses. In a case study of a Greek government bond for the period 2009 to 2011 when Greece’s credit rating declined sharply, this study highlights the discretion that preparers have when estimating impairments. IFRS 9 relies more on management expectations and will lead to earlier impairments. However, these appear still delayed and low if compared to the ...

IFRS 9 introduces new impairment rules responding to the G20 critique that IAS 39 results in the delayed and insufficient recognition of credit losses. In a case study of a Greek government bond for the period 2009 to 2011 when Greece’s credit rating declined sharply, this study highlights the discretion that preparers have when estimating impairments. IFRS 9 relies more on management expectations and will lead to earlier impairments. However, these appear still delayed and low if compared to the fair value losses. This document was provided by Policy Department A at the request of the ECON Committee.

Εταίροι

Μείνετε μαζί μας

email update imageΣύστημα ενημέρωσης με email

Το σύστημα ενημέρωσης με email, το οποίο σας στέλνει τα νέα κατευθείαν στην ηλεκτρονική γραμματοθυρίδα σας, σας επιτρέπει να έχετε διαρκή ενημέρωση για πρόσωπα και πράγματα στο Κοινοβούλιο. Λαμβάνετε, μεταξύ άλλων, τις τελευταίες ειδήσεις σχετικά με βουλευτές και επιτροπές του ΕΚ, τις υπηρεσίες ενημέρωσης ή το Think Tank.

Μπορείτε να μπείτε στο σύστημα αυτό από οποιαδήποτε ιστοσελίδα του Κοινοβουλίου. Για να εγγραφείτε και να λαμβάνετε τις ειδοποιήσεις του Think Tank, δώστε απλώς τη διεύθυνση του email σας, επιλέξτε το θέμα που σας ενδιαφέρει, διαλέξτε τη συχνότητα της ενημέρωσης (καθημερινή, εβδομαδιαία, ή μηνιαία) και ολοκληρώστε την εγγραφή σας ακολουθώντας τον σύνδεσμο που θα λάβετε με email.

RSS imageΚανάλια RSS

Με το RSS feed μας, δεν θα χάνετε καμιά πληροφορία ή ενημέρωση των ιστοσελίδων του Κοινοβουλίου.

Ακολουθήστε τον παρακάτω σύνδεσμο για να μπείτε στις ρυθμίσεις του RSS.