In the context of Covid-19, our expert Vincent Guillard presents recent EBA, IASB, ESMA and BCE publications and the consequences of these new accounting and prudential measures on banks’ ECL under IFRS 9.
Covid-19 Impact bank´s ECL under IFRS 9.
The current economic environment is evolving very fast, creating an exceptional and uncertain environment. In this context, new guidance, recommendations, and publications are issued every week by regulators and authorities.
This webinar does not aim at providing a comprehensive description of the available guidance but rather a general overview of issued statements related to IFRS 9 ECL Estimates in the context of the Covid-19 financial crisis.
The situation caused by the COVID-19 has a substantial impact in all the economic activity, with temporary (cash tensions) and structural effects (business restructuring) and an impact at short (suppliers/customers), medium (employees) and long term (shareholders/ creditors).
The COVID-19 pandemic is a constantly evolving global health crisis that is creating a huge range of challenges for individuals and businesses around the world. As governments take unprecedented action to prevent the spread of the virus, businesses are facing an ever-more complex environment to operate within.
The expansion of Coronavirus (Covid-19), the globalization of society, in general, and of the economy in particular, has led the society and the companies to move in a hostile environment, in a hasty and abrupt manner, without time for their adaptation or anticipation. The health crisis has struck in a generalized manner, affecting all economic fields and sectors.
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