The Bank Statement – Q2 2017 - KPMG | AE
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The Bank Statement – Q2 2017

The Bank Statement – Q2 2017

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


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The Bank Statement is KPMG’s IFRS newsletter for the banking sector, updated each quarter

The Bank Statement is KPMG’s quarterly banking newsletter

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

Download the latest issue (PDF 235 KB) to read about the developments in Q2 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 development.

Credit loss accounting for dual reporters

The new credit loss frameworks under IFRS and US GAAP are conceptually similar, in that they are both ‘expected’ and forward-looking, as opposed to the ‘incurred’ loss frameworks applicable today. However, there are significant differences that dual reporters need to consider carefully when designing their accounting and governance solutions.


Global banks with reporting obligations under both IFRS and US GAAP face the challenge of implementing two expected credit loss frameworks.”


Reza van Roosmalen and Brandon Isaacs, KPMG Accounting
Advisory Services in the US

This newsletter explores some issues to consider in deciding whether to centralise implementation efforts for the two frameworks.

How do you compare? Presentation of interest

In anticipation of the effective date of IFRS 9 Financial Instruments of 1 January 2018 and the new presentation requirements introduced by the standard, we look at how banks currently present interest on financial instruments at fair value through profit or loss in profit or loss.

IFRS 9 developments and IASB projects

There’s more news in our regular sections on IFRS 9 and the IASB’s activities, including IFRS Interpretations Committee discussions on the modification or exchange of financial liabilities that do not result in derecognition under IFRS 9.

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