Coronavirus crisis resources – banks

This hub gathers relevant Coronavirus crisis resources for European professional accountants dealing with financial institutions. It focuses on the impacts on financial reporting (including IFRS 9 Financial Instruments), regulatory reporting and the related audit considerations. It is a sub-set of our general online hub: Coronavirus resources for European accountants. We will keep adding resources to the list. If you have suggestions, please contact Nha Vy.

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Scroll down to see what has been done by us, our Member Bodies, Public Authorities/Standard-setters and Firms

Accountancy Europe 

• • Coronavirus crisis: implications on reporting and auditing

Our Member Bodies

CNCC (France)

• Publication of FAQ by French banking working party– 22/04/2020

IDW (Germany)

• Effects of the spread of the coronavirus on the financial statements as of 31.12.2019 and their audit
• Effects of the coronavirus pandemic on impairment of financial instruments according to IFRS 9 in the quarterly financial statements

ICAEW (UK)

• COVID-19 business support measures: impact on IFRS 9 – 08/04/20

Public Authorities / Standard-Setters

International

BIS

• Basel Committee sets out additional measures to alleviate the impact of Covid-19 – 03/04/2020

IASB

• IFRS 9 and covid-19

International Organisation of Securities Commissions (IOSCO)

• Statement on Application of Accounting Standards during the COVID-19 Outbreak – 03/04/2020

European

EBA

• Statement on the application of the prudential framework regarding Default, Forbearance and IFRS9 in light of COVID-19 measures  25/03/2020
• EBA provides additional clarity on measures to mitigate the impact of COVID-19 on the EU banking sector – 31/03/2020
• Guidelines on treatment of public and private moratoria in light of COVID-19 measures – 02/04/2020
• EBA provides further guidance on the use of flexibility in relation to COVID-19 and calls for heightened attention to risks – 22/04/2020
• COVID-19 is placing unprecedented challenges on EU banks – 25/05/2020
• EBA issues Guidelines to address gaps in reporting data and public information in the context of COVID-19 – 02/06/2020

ESMA

• Accounting implications of the COVID-19 outbreak on the calculation of expected credit losses in accordance with IFRS 9 25/03/2020

European Commission 

• Commission Interpretative Communication on the application of the accounting and prudential frameworks to facilitate EU bank lending – 28/04/2020

National

ACPR (France) 

• The ACPR calls on credit institutions under its direct supervision and finance companies to refrain from distributing a dividend – 30/03/2020

AMF (France)

• Covid 19: clarification of accounting implications for calculating expected credit losses – 30/03/2020

AFRAC (Austria)

• Technical information on the effects of the spread of COVID-19 on the accounting of financial instruments at banks on reporting dates after December 31, 2019 – 05/2020

PRA/FRC (UK)

• Updates on COVID-19 response
• Advice to companies & auditors on coronavirus risk disclosures 18/02/2020
• Guidance on audit issues arising from the Covid-19 – 16/03/2020
• AGMs and impact of COVID-19– 18/03/2020
• Bank of England announces supervisory and prudential policy measures to address the challenges of Covid-19 20/03/2020
• FRC guidance for companies and auditors during Covid-19 crisis-26/03/2020

Firms

Deloitte 

• IFRS in Focus — Expected credit loss accounting considerations related to Coronavirus Disease 2019 – 31/03/2020

EY 

• IASB and regulators highlight IFRS 9 ECL requirements during the coronavirus pandemic – 27/03/2020