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ARTICLE · 22 NOVEMBER 2019

Take The Test! IFRS 9 Implementation By Credit Institutions – The CSSF's Angle!

KPMG Luxembourg
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Are you dealing with IFRS 9 reporting for a bank which is under the supervision of CSSF? Can you confidently answer YES to these 8 key questions?

LuxembourgCorporate/Commercial Law
Georgina Prokop
Georgina Prokop
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Are you dealing with IFRS 9 reporting for a bank which is under the supervision of CSSF? Can you confidently answer YES to these 8 key questions?

  • Has your bank included all relevant elements in its methodology used to calculate expected credit losses (ECL), especially calibration of input parameters, discounting factors and scenarios?
  • Does your bank consider all reasonable and supportable information for the assessment of significant Increase in credit risk (SICR) including qualitative factors?
  • Does your bank over-rely on the 30 days past due backstop?
  • Has your bank conducted a proper business model assessment taking into account relevant factors like sales level, remuneration targets, and risk management?

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