Basel gives local supervisors latitude to set ECL relief
Guidance for IFRS 9 and Cecl phase-in leaves local regulators to decide on calibration
The Basel Committee on Banking Supervision has left it to local market regulators to decide what form of transitional capital relief to offer banks under their jurisdiction when they implement expected credit loss (ECL) accounting standards.
New accounting standards – International Financial Reporting Standard (IFRS) 9 and its US counterpart, the Current Expected Credit Loss (Cecl) rule – will require banks to recognise expected losses over a loan’s lifetime, rather than at the point of
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