Новости

CB of Russia will adopt Basel III on 1 January 2014

The Central Bank of the Russian Federation plans to adopt the Basel III standard on 1 January 2014. The minimum acceptable capital adequacy for common equity will be set at 5%; for Tier 1 capital – 5.5% (6% starting from 1 January 2015). On that informed the CB’s new chairperson Elvira Nabiullina.

EFRAG's Draft Comment Letter on the IASB’s revised Exposure Draft Leases - ED/2013/06

EFRAG issued its Draft Comment Letter on the IASB’s revised Exposure Draft Leases (ED/2013/06). Comments on the letter are invited by 6 September 2013.

EFRAG comment letter on the IASB ED Financial Instruments: Expected Credit Losses

While EFRAG has conceptual concerns about the 12-month expected loss measurement, we accept the IASB proposals as we expect they will result in a more timely recognition of expected credit losses, and thereby address the weakness of an incurred loss model. However, EFRAG is concerned that the proposals would require significant implementation and ongoing costs.

What do investors expect from non-financial reporting?

On 16 April, the European Commission proposed new non-financial disclosure requirements for all large companies in the EU, through an amendment to the Accounting Directives.

GAAP-IFRS.COM Digest: 14-28 June

An “accounting gimmick” will help the Federal Reserve to hide its losses

Yield on US federal bonds is rising while prices are falling. The Fed has already incurred serious losses but the regulator won’t show them anyway with a simple accounting gimmick – precisely, special accounting rules it follows.

Fannie Mae and Freddie Mac will possibly be liquidated

American senators don’t like ineffectiveness of those two state corporations. A group of them (four democrats and four republicans) prepared a bill this week, according to which it is planned to liquidate state mortgage corporations Fannie Mae and Freddie Mac and take all of their operation under control of a new organization to be formed under FDIC’s supervision.

New Basel rules won’t let banks take risky assets off-balance

Yesterday the Basel Committee on Banking Supervision published its preliminary rules – a leverage ratio framework and disclosure requirements to be used in calculation of the leverage ratio, one of the most important indicators of financial stability. As it was expected, the maximum value of the coefficient (which is just a share of borrowed funds in own capital) was left at 3%. However, the rules for its calculation were made tougher and may possibly cause bankers’ displease, let alone the need to raise additional funds.

European banks will be saved by large deposit- and shareholders

The night before Tuesday EU finance ministers agreed on single rules for salvation and financial rehabilitation of problematic banks: it will now be done not at taxpayers’ expenses, but at costs of shareholders, large deposit holders and creditors of banks themselves.

IASB publishes guide for micro-sized entities applying the IFRS for SMEs (2009)

The International Accounting Standards Board (IASB) today issued guidance to help micro-sized entities apply the IFRS for Small and Medium-sized Entities (IFRS for SMEs).