Third Global IFRS Banking Survey
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The sustained high level of interest in banks’ financial statements continues unabated, with demands for banks to increase their capital base whilst also increasing lending in a complex economic and regulatory environment.
The IASB has been continuing its work to develop consensus in financial instruments accounting, including finding common ground with the U.S. standard setter, FASB. Banks will be affected to a greater extent than others by the financial instruments proposals, and so are watching the IASB and FASB proposals closely.
In light of this, Deloitte member firms have conducted the Third Global IFRS Banking survey. The survey includes responses from 70 global banking groups, including 19 of the global systemically important financial institutions (G-SIFIs) as determined by the Financial Stability Board. Key survey findings include:
This survey aims to provide you with insights into the current thinking around accounting change and raise awareness of the size and scale of the impact of these proposed changes. We also hope that it will support banks’ benchmarking processes whilst enriching conversations across the industry.