The Bank Statement – Q4 2017 | KPMG | CY

The Bank Statement – Q4 2017

The Bank Statement – Q4 2017

This newsletter looks at IFRS and regulatory matters affecting accounting by banks

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This newsletter looks at IFRS and regulatory matters affecting accounting by banks.

This is the last issue of the Bank Statement, KPMG’s quarterly banking newsletter.

It provides an update on IFRS developments that directly impact banks, and considers the potential accounting implications of regulatory requirements.

Download the last issue (PDF 643 KB) to read about the developments in Q4 2017. Previous issues can be found on our IFRS Newsletters web page.

And visit our IFRS for Banks and IFRS – Financial instruments hot topics pages for more on these and other related developments.

LIBOR reforms and the accounting impacts

Over the past few decades, the London inter-bank offered rate (LIBOR) has been a cornerstone of the global financial markets. 

However, in a recent speech the chief executive of the Financial Conduct Authority (FCA) in the UK indicated that market participants should prepare for the likelihood that LIBOR will cease to exist in its current form by the end of 2021.

 

“Armed with the knowledge of the likely LIBOR reforms, market participants have already started to think about the possible actions that they would need to take.”

 

Shandhir Lachman and Colin Martin, KPMG in the UK

 

This newsletter explores some of the potential accounting impacts.

How do you compare? Capital management disclosures

We look at capital management disclosures made by banks as part of their audited 2016 annual financial statements. 

IFRS 9 developments and other news

This issue also includes our regular sections on IFRS 9 and the IASB’s activities, as well as the recent US tax reforms’ potential impact on 2017 financial statements.

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