IFRS 9

TPBank selects Wolters Kluwer’s OneSumX IFRS9

Retrieved on: 
Thursday, January 28, 2021
Professional services, Data management, Technology, Finance, Software, Banking, Accounting, International Financial Reporting Standards, Finance, Money, Financial regulation, Accounting systems, Wolters Kluwer, IFRS 9, Regulatory compliance, Provision, Accounting standard, IFRS 4

Vietnam's Tien Phong Commercial Joint Stock Bank (TPBank) has chosen Wolters Kluwers Finance, Risk & Regulatory Reporting (FRR) business to provide software for helping to ensure compliance with International Financial Reporting Standard (IFRS) 9.

Key Points: 
  • Vietnam's Tien Phong Commercial Joint Stock Bank (TPBank) has chosen Wolters Kluwers Finance, Risk & Regulatory Reporting (FRR) business to provide software for helping to ensure compliance with International Financial Reporting Standard (IFRS) 9.
  • The bank will use OneSumX IFRS 9 , a module of OneSumX for FRR , for managing its obligations around the accounting standard which is set to be implemented in Vietnam in 2023.
  • OneSumX IFRS 9 offers a solid framework combining lifecycle information on each individual financial instrument with a comprehensive set of IFRS 9 calculators.
  • Wolters Kluwer FRR, which is part of Wolters Kluwers Governance, Risk & Compliance (GRC) division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions.

Moody’s Analytics Expands Credit Risk Solutions to Specialized Asset Classes

Retrieved on: 
Wednesday, October 14, 2020
Banking, Professional services, Finance, Finance, Service industries, Service companies, Moody's Corporation, Business intelligence, Credit risk, Scorecard, Moody's Analytics, Current Expected Credit Losses, Analytics, IFRS 9, International Financial Reporting Standards

Moodys Analytics has enhanced its award-winning suite of risk models with new scorecards for assessing the creditworthiness of certain asset classes, such as non-banking financial institutions and project finance transactions.

Key Points: 
  • Moodys Analytics has enhanced its award-winning suite of risk models with new scorecards for assessing the creditworthiness of certain asset classes, such as non-banking financial institutions and project finance transactions.
  • Over the last few years, an increasing share of credit has been sourced by alternative lenders and specialized funding vehicles.
  • The RiskCalc Scorecard Suite is designed to help credit professionals measure the default risk of these niche asset classes and adopt forward-looking views of risk, including for CECL and IFRS 9 purposes.
  • Our new scorecards enable credit and investment professionals to focus on results, and not be bogged down in time-consuming modeling processes, said Nihil Patel, Managing Director at Moodys Analytics.

AxiomSL Wins IFRS 9 Product of the Year at Asia Risk Awards

Retrieved on: 
Thursday, September 17, 2020
Credit risk, Great Recession, IFRS 9, International Financial Reporting Standards, Finance, Money, Economy

The annual awards program recognizes best practices in risk management and derivatives among banks and financial institutions throughout Asia.

Key Points: 
  • The annual awards program recognizes best practices in risk management and derivatives among banks and financial institutions throughout Asia.
  • AxiomSL's IFRS 9 solution seamlessly aggregates the necessary financial, risk and macroeconomic data without duplication to satisfy IFRS 9 regulatory requirements.
  • Banks too often face considerable challenges in sourcing and integrating all of the disparate data points needed to comply with IFRS 9 requirements," said Gavin Pugh, Head of Risk Solutions, Asia Pacific, AxiomSL.
  • Especially during COVID-19 and its aftermath, this type of flexibility is central to maintaining a resilient and data agnostic risk and regulatory ecosystem.

AxiomSL Wins IFRS 9 Product of the Year at Asia Risk Awards

Retrieved on: 
Thursday, September 17, 2020
Credit risk, Great Recession, IFRS 9, International Financial Reporting Standards, Finance, Money, Economy

The annual awards program recognizes best practices in risk management and derivatives among banks and financial institutions throughout Asia.

Key Points: 
  • The annual awards program recognizes best practices in risk management and derivatives among banks and financial institutions throughout Asia.
  • AxiomSL's IFRS 9 solution seamlessly aggregates the necessary financial, risk and macroeconomic data without duplication to satisfy IFRS 9 regulatory requirements.
  • Banks too often face considerable challenges in sourcing and integrating all of the disparate data points needed to comply with IFRS 9 requirements," said Gavin Pugh, Head of Risk Solutions, Asia Pacific, AxiomSL.
  • Especially during COVID-19 and its aftermath, this type of flexibility is central to maintaining a resilient and data agnostic risk and regulatory ecosystem.

Moody’s Analytics Repeats IFRS 9 Wins at Risk Technology Awards

Retrieved on: 
Monday, August 3, 2020
Professional services, Other Professional Services, Technology, Other Technology, Finance, Banking, Accounting, Finance, Money, Economy, Actuarial science, Business intelligence, Credit risk, Great Recession, IFRS 9, Analytics, International Financial Reporting Standards, Enterprise risk management, Risk

For the second straight year, Moodys Analytics has won the Risk Technology Awards for IFRS 9 Enterprise Solution of the Year and IFRS 9 ECL Modelling Solution of the Year .

Key Points: 
  • For the second straight year, Moodys Analytics has won the Risk Technology Awards for IFRS 9 Enterprise Solution of the Year and IFRS 9 ECL Modelling Solution of the Year .
  • The two IFRS 9 awards bring the Moodys Analytics tally to seven in the 2020 Risk Technology Awards program.
  • Moodys Analytics solutions for IFRS 9 are modular and flexible, to help institutions of any size meet the standard while strengthening their risk management and decision-making processes.
  • The Risk Technology Awards recognize outstanding vendors helping the industry in the fields of ALM, credit, operational risk, and enterprise risk management.

Banks Encouraged to View Basel IV as Catalyst for Greater Productivity in Wolters Kluwer White Paper

Retrieved on: 
Monday, June 15, 2020
Professional services, Data management, Technology, Legal, Software, Consulting, Banking, Economy, Alphen aan den Rijn, Wolters Kluwer, Finance, Money, International Financial Reporting Standards, Wolters, CT Corporation, IFRS 9

Thats according to a new white paper from Wolters Kluwers Finance, Risk & Reporting (FRR) business that reveals how banks can adopt a path to greater productivity and profitability, becoming a better bank, not just a more compliant one.

Key Points: 
  • Thats according to a new white paper from Wolters Kluwers Finance, Risk & Reporting (FRR) business that reveals how banks can adopt a path to greater productivity and profitability, becoming a better bank, not just a more compliant one.
  • New or revamped thinking and organizational structures will be required, too, and, as the white paper discusses, not just during the implementation phase, but long after.
  • The message encapsulated in the phrase Basel IV for business has been articulated for years by Wolters Kluwer as financial supervision has evolved through IFRS 9/CECL and earlier Basel Committee guidance.
  • To help with this Wolters Kluwer FRR clients are implementing OneSumX Basel IV - the integrated regulatory compliance and reporting solution that helps financial firms achieve consistency and address interdependencies within Basel IV.

Moody’s Analytics Wins IFRS 9 Product of the Year at Asia Risk Awards

Retrieved on: 
Wednesday, September 25, 2019
Finance, Banking, Accounting, Professional services, Economy, Business, Articles, Financial regulation, International Financial Reporting Standards, Moody's Analytics, IFRS 9, LinkedIn, Analytics

Moodys Analytics, a global provider of financial intelligence, has won the IFRS 9 Product of the Year category at the Asia Risk Awards 2019.

Key Points: 
  • Moodys Analytics, a global provider of financial intelligence, has won the IFRS 9 Product of the Year category at the Asia Risk Awards 2019.
  • This recognition from Asia Risk follows our recent wins for IFRS 9 ECL Modelling Solution of the Year and IFRS 9 Enterprise Solution of the Year in the 2019 Risk Technology Awards.
  • Were honored to receive this recognition from Asia Risk, said Shailendra Jain, General Manager-Asia, Enterprise Risk Solutions.
  • For more information about Moodys Analytics, visit our website or connect with us on Twitter and LinkedIn .

Best’s Commentary: IFRS 17 Update — Changes Still Possible

Retrieved on: 
Friday, September 6, 2019
Finance, Banking, Professional services, Insurance, International Financial Reporting Standards, Financial regulation, Accounting, Actuarial science, Economy, International Accounting Standards Board, IFRS 1, Business, Great Recession, IFRS 9, IFRS 4

Stakeholders now have until 25 September to respond to the June 2019 Exposure Draft, Amendments to IFRS 17, in which the IASB published their proposals.

Key Points: 
  • Stakeholders now have until 25 September to respond to the June 2019 Exposure Draft, Amendments to IFRS 17, in which the IASB published their proposals.
  • In a new Bests Commentary, IFRS 17 Update Changes Still Possible, AM Best highlights some uncertainties yet to be tackled by the amendments.
  • It notes that although the IASBs proposed changes do not modify the nature of IFRS 17, some would have quite material effects.
  • Silverman also notes that: The cohort requirement of IFRS 17 addresses a key weakness of previous value-oriented reporting frameworks.

Ent Credit Union Selects Moody’s Analytics CECL Solution

Retrieved on: 
Tuesday, August 20, 2019
Software, Finance, Banking, Accounting, Technology, Professional services, Economy, Business, Service companies, Business intelligence, Analytics, Big data, Moody's Corporation, The Moodys, International Financial Reporting Standards, Ent Credit Union, IFRS 9, ENT

Moodys Analytics, a leading provider of financial intelligence, announced today that Ent Credit Union has selected the Moodys Analytics Current Expected Credit Loss (CECL) solution to implement the CECL accounting standard.

Key Points: 
  • Moodys Analytics, a leading provider of financial intelligence, announced today that Ent Credit Union has selected the Moodys Analytics Current Expected Credit Loss (CECL) solution to implement the CECL accounting standard.
  • The centerpiece of the Moodys Analytics CECL solution is the ImpairmentStudio platform, which lets financial institutions automate allowance calculation, analysis, reporting, and workflow.
  • Ent Credit Union will use the Moodys Analytics CECL solution to determine the ideal approach for each loan segmentation, by switching between different methodologies.
  • We evaluated many providers but ultimately we chose the Moodys Analytics CECL solution based on their experience with both CECL and its international counterpart, IFRS 9, said Jason Stretch, Manager of Finance at Ent Credit Union.

EBA publishes its roadmap on IFRS 9 deliverables and launches IFRS 9 benchmarking exercise

Retrieved on: 
Tuesday, July 23, 2019
Financial regulation, Benchmarking, IFRS 9, Economy, International Financial Reporting Standards, Business, Articles

The European Banking Authority (EBA) published today its IFRS 9 roadmap providing a comprehensive overview of planned monitoring activities on IFRS 9 implementation. The EBA also launched an IFRS 9 benchmarking exercise on a sample of institutions aimed at analysing the different modelling practices followed by institutions and how IFRS 9 implementation impacts the amount of expected credit losses in terms of own funds and regulatory ratios.

Key Points: 
  • EBA publishes its roadmap on IFRS 9 deliverables and launches IFRS 9 benchmarking exercise

    23 July 2019

    The European Banking Authority (EBA) published today its IFRS 9 roadmap providing a comprehensive overview of planned monitoring activities on IFRS 9 implementation.

  • The EBA already conducted several exercises on the IFRS 9 impact on EU institutions and communicated preliminary observations on the first stages of implementation[1].
  • The IFRS 9 benchmarking exercise represents an important step in the context of the on-going quantitative monitoring activities.
  • The EBA already organised interactions with professional associations and representative banks as well as with external auditors on the benchmarking exercise.