What impact is IFRS-9 forward provisioning having on banks during the Covid-19 crisis?

The economic fall-out from the Covid-19 pandemic is the first major test for the IFRS-9 accounting standard, which only came into force in 2018.  Global Risk Regulator chaired a discussion about how banks are interpreting the IFRS-9 standard, what approaches they’re taking to forward provisioning for bad loans and how they’re accounting for regulatory guidance around how they should provision for non-performing loans.  The two experts who took part in the discussion were Jane Fuller who is a co-director at the Centre for the Study of Financial Innovation and a fellow at the CFA Institute UK and Damien Burke who is a partner at the credit risk consultancy, 4Most.   

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This is a series of regular podcasts about financial regulation brought to you by Global Risk Regulator, a Financial Times publication. These podcasts involve discussions with industry experts who share their insights on the latest trends in prudential, markets and conduct regulation.