New Reporting Rules May Increase Capital Buffers, BoE Warns

Law360, London (February 14, 2020, 2:39 PM GMT) -- The Bank of England has said that a new global accounting standard, which allows banks to recognize permanent reductions from an early stage, could lead to financial companies being forced to hold higher capital buffers.

The central bank’s Financial Policy Committee, which monitors risks to the U.K.'s financial system, said Thursday that its stress test of banks could be adjusted to reflect the International Financial Reporting Standard 9, known as IFRS 9, which came into effect in 2018.

The new reporting rules force financial companies to recognize financial losses from permanent hits to their assets, known as impairment losses, at an early...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!