Analysis
EU COVID-19 ‘Quick Fix’ for software asset deductions in response to COVID-19 impactsEU COVID-19 ‘Quick Fix’ for software asset deductions in response to COVID-19 impactsEU COVID-19 ‘Quick Fix’ for software asset deductions in response to COVID-19 impacts
Time to review IFRS capitalisation policies?
The pressure placed by COVID-19 on European banks is well documented. To help ease that pressure, the European Union (EU) enacted emergency amendments to the EU Capital Requirements Regulation (CRR) known as the ‘CRR Quick Fix’ which include an end to the requirement to deduct the full value of software intangible assets from Common Equity Tier 1 (CET1) capital.
