International Reporting: IBOR reforms accelerate and expected credit losses test banks

The next liquidity crisis could already be here, as financial institutions grapple with expected credit losses in the wake of Covid-19, while the IASB’s interest rate benchmark reforms cannot be delayed, explains Jeroen Van Doorsselaere

The year 2020 has seen a fundamental change in the mindset of finance and risk departments. Whereas before the Covid-19 pandemic all eyes were on profits, now most will be concerned with limiting overall losses.

Financial institutions around the world are facing unprecedented challenges. While the cost of compliance stays the same, margins have been stretched and unexpected risks are having a major impact. We are, quite possibly, now facing a global recession like nobody has ever known.

Your free features:

  • Breaking news and expert analysis
  • Customisable daily newsletters
  • Six free CPD learning modules each year
  • Personalised CPD tracker
  • Top 75 Firms league tables
  • Regulatory changes
  • Hardman’s Tax Data

Sign up to Business & Accountancy Daily

Related Articles
Subscribe