Deloitte: Fourth Global IFRS Banking Survey of 54 major banking groups

27 June 2014

Deloitte has issued its 'Fourth Global IFRS Banking Survey — Ready to Land'. The report has feedback on recent accounting and regulatory changes from major banking groups (including 14 global systemically important financial institutions).

'Fourth Global IFRS Banking Survey — Ready to Land' summarises key findings such as:

• Three years is most frequently cited as the necessary lead time for all phases of IFRS 9 Financial Instruments.
• There is an increasing expectation that banks' pricing will be affected by the accounting change.
• More than half of banks surveyed believe that the expected loss approach will result in banks' provisions increasing by up to 50% across all loan asset classes.
• 70% of banks surveyed anticipate their IFRS 9 expected loss provision to be higher than current regulatory expected loss. Capital planning uncertainty will continue, as regulators' responses to change are not yet known.
• The key implementation challenges cited were resource constraints and coordinating multi-disciplinary effort including finance, credit, risk and IT.
• 56% of banks surveyed are concerned about credit data reconciliation and credit data quality.

Press release

Fourth Global IFRS Banking Survey — Ready to land

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