EBA · 2017_3369 Final Q&A

FINREP IFRS 9, F 16.01 - Interest income and expenses by instrument and counterparty sector

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
99
Topic
Supervisory reporting - FINREP (incl. FB&NPE)
Submitted by
Credit institution
Submitted
2017-06-26
Answered
2017-11-17
Answer provided by
ESAs (EBA, ESMA, EIOPA)
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Question

Under national GAAP based on BAD, do ‘impaired assets’ consist of assets subject to specific and general impairment allowances or only those subject to specific impairment allowances? What scope of ‘impaired assets’ shall be considered for row 280 (‘of which: interest-income on credit impaired financial assets’) of template F 16.01?

Background

According to Annex V, Part 2, Par. 194 of EBA/ITS/2016/07, under national GAAP based on BAD row 280 ‘of which: interest-income on credit impaired financial assets’ of template F 16.01 shall include interest income on assets impaired with a specific or general impairment allowance for credit risk. However, according to the concept to calculate the gross carrying amount, ‘impaired assets’ under national GAAP based on BAD shall only include assets adjusted for specific allowances for credit risk (but not assets adjusted for general allowances for credit risk). See Annex V, Part 1, Par. 34(c): ‘…the gross carrying amount of impaired assets shall be equal to the carrying amount before adjusting for specific allowances for credit risk. The gross carrying amount of unimpaired assets shall be the carrying amount before adjusting for general allowances for credit risk and general allowances for banking risk, where affecting the carrying amount’.

Answer

For the purposes of reporting information in row 280 of template F 16.01 of Annexes III and IV to Regulation (EU) No 680/2014 (ITS on Supervisory Reporting) as amended by Regulation (EU) 2017/1443, ‘impaired assets’ under national GAAP based on BAD shall only include assets adjusted for specific allowances for credit risk (but not assets adjusted for general allowances for credit risk).The instructions in Annex V, Part 2, paragraph 194 of the ITS on Supervisory Reporting will be amended accordingly.

Original source: European Banking Authority, Q&A ID 2017_3369

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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