2018: The IFRS9 stress test | KPMG | UK

2018: The IFRS9 stress test

2018: The IFRS9 stress test

Commenting on the 2018 stress test scenarios from The Bank of England, Rob Smith, banking partner, KPMG UK comments:

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Commenting on the 2018 stress test scenarios from The Bank of England, Rob Smith, banking partner, KPMG UK comments:

 

“The decision to leave the scenario unchanged was unexpected, but it shows the Bank of England’s potential concerns with the effects of the new accounting standard IFRS9 and its behaviour under stress. Maintaining the severity of the scenario at 2017 levels enables the Bank to isolate and understand how IFRS9 will impact a bank’s performance in a severe downturn.

 

“The higher pass mark was also unexpected. Domestic banks will now be assessed against systemic buffers which previously only applied to global players. This might create pressure for some of our UK only banks.”

 

- Ends -

Notes to Editors: 

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Christina Bridge, Senior Manager, Press Office 

T: +44 (0)20 7311 4252

M: +44 (0)7789 504905

E : christina.bridge@kpmg.co.uk

KPMG Press office

T:  +44 (0) 207 694 8773

 

About KPMG in the UK

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff.  The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

 

 

Christina Bridge

Senior Manager, Press Office 

Tel: +44 (0)7789 504905

KPMP LLP

15 Canada Square

London


E14 5GL

 

 

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