On Monday 28 August, the European Central Bank (ECB) published amendments to its regulation on reporting of supervisory financial information (Regulation ECB/2015/13), which entered into force on 31 December 2015.
The changes made by the ECB - following its examination of the responses to its public consultation - aim to bring the provisions of its regulation into line with the requirements inherent to the new international financial reporting standard on 'financial instruments' (IFRS 9).
IFRS 9, which brings in a new model for losses absorbed for the accountancy treatment of the depreciation of financial assets, will require an adjustment of the models used by banks to report their financial information, the institution explains.
The ECB has given France and Germany, whose national accountancy frameworks are not compatible with the IFRS, extra time to apply the regulation. Smaller supervised entities subject to their national accountancy legislation and established in either of these countries must apply the regulation from 1 January 2019. For all other supervised entities, the modified regulation will enter into force alongside IFRS 9, on 1 January 2018. The text is available at: http://bit.ly/2wMi6lt . (Original version in French by Marion Fontana)