EBA · 2013_121 Final Q&A

FINREP Amount of cumulative changes in fair value due to credit risk

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
99, para. 2
Topic
Supervisory reporting - FINREP (incl. FB&NPE)
Submitted by
Industry association
Submitted
2013-08-06
Answered
2014-02-14
Answer provided by
ESAs (EBA, ESMA, EIOPA)
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Question

In the absence of accurate information how the amount of cumulative changes in fair value due to credit risk should be reported? This question is also relevant for templates F4.2, F8.1, F16.5, F45.1.

Background

As mentioned in the EBA Q&A’s the requirement in IFRS to specify the credit risk component relates only to financial assets designated at FVTPL and not for trading portfolios.

Answer

Reporting institutions should in principle be able to determine the amount of cumulative changes in fair value due to credit risk. If the information needed to its determination does not exist or is not possible to retrieve without incurring into significant costs, following the principles of IAS 8 the reporting institution shall carry out a reliable estimation of this amount. Retrospective application back to the date of initial acquisition is required where a reliable estimate for this is able to be made. If a reliable estimation is not possible, reporting institutions should apply the requirements retrospectively from the earliest period practicable.

Original source: European Banking Authority, Q&A ID 2013_121

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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