Prudential Asset Classification and Provisioning and the IFRS

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Prudential Asset Classification and Provisioning and the IFRS (PACP)

This course, presented by the Monetary and Capital Markets Department, explains various aspects of, and issues related to, asset classification and provisioning, both from the prudential regulatory perspective and the perspective of accounting/IFRS. It also explores the role of the supervisor in reconciling differences between the two perspectives. In addition to covering loan loss provisioning principles and the requirements of the Basel Committee on Banking Supervision (BCBS), the course discusses IFRS 9’s expected credit loss (ECL) recognition principles and related IFRS requirements. The course also tackles IFRS 9 implementation issues, including those related to the impact of COVID-19. Case studies and hands-on exercises are provided to enhance the effectiveness of the course. Participants are invited (and should be prepared) to share their own experiences and views on this topic.

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Target Audience

Bank supervisors and officials responsible for loas loss provisioning and managing credit risk in countries that have adopted International Financial Reporting Standards (IFRS) or are planning to do so.

Qualifications

Participants are expected to have a degree in economics or finance, or equivalent experience.

Course Objectives

Upon completion of this course, participants should be able to:

Understand the IFRS and principles and rules related to credit loss recognition and disclosures and the difference between the accounting and regulatory approaches.
Meet supervisory challenges in helping banks to implement IFRS 9’s ECL requirements as well as balancing the accounting and regulatory requirements in asset classification and provisioning..
Recognize major international developments (e.g., BCBS decisions) that affect the application of IFRS 9 and understand their implications.

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