Sunday May 31, 2020

Analysis: New accounting rules might not ruffle the feathers of Irish banks

Irish institutions already have sizeable provisions - but EU banks will have to increase them by 18 per cent

12th November, 2016
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This week’s European Banking Authority (EBA) report on the impact of new accounting rules on banks found that EU banks would, on average, have to increase expenses set aside for expected loan losses by 18 per cent.

And more than 80 per cent of banks expect to have to set aside around 30 per cent in increased provisions because of the rules, known as IFRS 9, the report said.

But the feathers of Ireland’s banks are unlikely...

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