IFRS 9 became mandatory as of January 2018. This means that financial institutions (FI) now have four full years of historical data on IFRS 9 reporting numbers available. One of the key aspects of IFRS 9, and its main difference with the Basel framework, is the requirement to make lifetime expected credit loss (LECL) estimates for facilities with a worsened credit rating. For the required yearly monitoring exercise of IFRS 9 models, it has been hard to test the accuracy of lifetime estimates.
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SAP ERP Central Component (ECC) support will be phased out in 2027, so corporates currently using SAP Enterprise Resource Planning (ERP) software are now planning their upgrade strategy to the replacement product – S/4 HANA.
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Last year, the world had to cope with the first impact of the pandemic. COVID-19 is a confirmation of the grim reality that black swan events continue to have an enormous impact on our lives. But is there a way to be better prepared for the unforeseeable? In this article, we look forward to the coming months and share the most relevant treasury trends for 2021 with you. What needs to be at the center of your company’s treasury plan to optimize resilience?
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The coronavirus (COVID-19) hit Europe around February 2020, impacting the health of millions of people, leading to thousands of deaths. Businesses in many industries were hit and experienced lower outputs, while the stock markets plunged. Banks are affected not only by increased credit risk on loans to customers, but also by stressed deposit inflows or outflows. This has consequences from both an interest rate risk in the banking book (IRRBB) and liquidity risk perspective.
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Financial institutions rely on complex quantitative models, processes and systems for business steering, risk management, financial reporting and to comply with regulation.
The risk of errors in these models due to incorrect development, implementation or use is therefore of primary concern to internal and external stakeholders. At the same time, new technologies such as Big Data and Artificial Intelligence are rapidly introducing new challenges on the use, explainability or potential biases in applying such techniques.
Corporate treasury is skilled at dealing with change. A large part of its job is managing the risk associated with cyclical trends, global regulatory initiatives, and geopolitical and macroeconomic events.
Lees meerZanders is een toonaangevend onafhankelijk adviesbureau met drie expertisegebieden: treasurymanagement, risicomanagement en corporate finance.
Sinds de oprichting in 1994 is het bedrijf uitgegroeid tot een internationaal gevestigde nichespeler, met vestigingen in vijf Europese landen, USA en Japan.
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Een middag vol visies op de toenemende klimaatrisico’s in de financiële sector
Verslag van het Zanders Risk Management Seminar 2022
‘De data-uitdaging maakt klimaatrisico een heel interessant, maar erg complex werkveld’
Interview Sandra Schoonhoven (ING)
in tijden van crisis
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