EBA urges European banks to step up IFRS 9 preparations
Banks not yet in testing phase face 32 basis point extra capital hit, report finds
The European Banking Authority (EBA) has used its second impact assessment on a new accounting standard to urge banks to step up their preparations ahead of implementation next year, or face a potential capital shock.
The EBA produced its first impact assessment on International Financial Reporting Standard 9 (IFRS 9) in November last year. That report found 19% of banks were planning parallel
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