United States

Q3 2016 Issue of The Bank Statement

Oct 17, 2016
From the Financial Reporting View

KPMG’s ISG recently published the Q3 2016 issue of The Bank Statement, which highlights new accounting for credit losses under IFRS 9, Financial Instruments, and FASB ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments. The issue compares important aspects of the two expected loss models, including the key differences in scope, measurement objectives, details of the calculations, use of forward-looking information, assessment of purchased credit-impaired (or credit-deteriorated) loans, and applicability to credit cards.

The issue also discusses interim disclosures related to the United Kingdom’s vote to leave the EU, and reports on the firm’s review and comparison of disclosures for a sample of 13 large European banks. Those disclosures include quantitative and qualitative information about the potential future effects of Brexit and activities undertaken to manage those effects.

Read KPMG ISG's Newsletter – The Bank Statement