The Bank Statement – Q3 2015

The Bank Statement – Q3 2015

This newsletter looks at IFRS and regulatory matters affecting accounting for 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 Issue 19 to read about the developments in Q3 2015. 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.

Accounting for client clearing arrangements

The size of a bank’s balance sheet can have a direct impact on the size of its capital requirements. But should client clearing transactions be on a clearing member’s balance sheet?“


"Client clearing is an evolving area and banks will need to continue to invest time to perform the relevant analyses."

Elizabeth Graystone, Banking Accounting Advisory, KPMG in the UK


In this quarter’s newsletter, we explore some of the accounting issues involved.

Negative interest rates

In the past year, certain benchmark interest rates have become negative and remained so. This creates real economic challenges, but also leads to accounting issues that have not previously been considered.

We discuss some of the common questions.

Other IFRS 9 developments and IASB projects

Also in this issue, we report on:

  • EFRAG’s endorsement advice on IFRS 9 Financial Instruments in the EU; and
  • updates on the IASB’s projects, including macro hedging and financial instruments with characteristics of equity.

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