CORONA - DNB extends ECB guidance on IFRS 9 in the context of the coronavirus (COVID-19) pandemic to LSIs

24 april 2020 ToezichtNieuwsbericht toezicht

Recently the ECB wrote to all significant institutions providing them with further guidance on and references to the use of forecasts to avoid excessively procyclical assumptions in their expected credit loss (ECL) estimations during the COVID-19 pandemic. DNB hereby extends the guidance provided to all Dutch less significant institutions which make use of IFRS 9 and urges them to consider the guidance provided.

DNB agrees with the ECB’s statement that while each institution should make its own assumptions and take its own decisions on the level of provisions required in line with IFRS 9, it is expected that institutions consider the guidance provided when estimating the ECL given the current context of heightened uncertainty and very limited availability of reasonable and supportable forward-looking information on the impact of COVID-19.

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CORONA - DNB extends ECB guidance on IFRS 9 in the context of the coronavirus (COVID-19) pandemic to LSIs

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CORONA - DNB extends ECB guidance on IFRS 9 in the context of the coronavirus (COVID-19) pandemic to LSIs

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