Particularly with regard to the ESG issue, we consider it very important that IFRS 9 remains principles based and that no case-by-case rules have been included.
The German Banking Industry Committee (GBIC) welcomes the IASB's approach to address the concerns expressed by stakeholders in the context of the Post-Implementation Review (PIR). Particularly with regard to the ESG issue, we consider it very important that IFRS 9 remains principles based and that no case-by-case rules have been included. We point out that the proposed disclosure requirements are clearly too extensive. They lead to a massive overloading of the notes and thus to an information overload. We therefore advocate that the IASB significantly reduce the scope of the planned disclosure requirements.
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