PRA reviewing need for new accounting at UK banks – Carney
Bank accounting is improving, BoE governor tells hearing – a result of new loan-loss standards and voluntary disclosures
UK regulators are considering whether banks need to file a parallel set of accounts to reflect supervisors' view of their health, Mark Carney, governor of the Bank of England (BoE) told the economic affairs committee of the House of Lords on Tuesday. The verdict will be published by the Prudential Regulation Authority (PRA) in the second or third quarter of this year, he said.
Banks in the UK follow International Financial Reporting Standards (IFRS) and Carney noted these are improving, in part
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