EBA · 2017_3553 Final Q&A

Reporting the gross carrying amount of the credit-impaired financial assets measured at amortised cost (other than purchased or originated credit-impaired financial assets), in the context of the new FINREP framework, as provided for in the Regulation (EU) 2017/1443

Regulation
Regulation (EU) No 575/2013 (CRR)
Article
99, para. 2
Topic
Supervisory reporting - FINREP (incl. FB&NPE)
Submitted by
Competent authority
Submitted
2017-10-11
Answered
2019-10-11
Answer provided by
ESAs (EBA, ESMA, EIOPA)
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Question

Our question is whether the gross carrying amount of a credit-impaired financial asset measured at amortised cost (other than purchased or originated credit-impaired financial assets) reported in the column 040 of the template F 04.04.1 “Financial assets at amortised cost” should be: a) the principal amount together with the value of the interest computed in accordance with IFRS 9 5.4.1(b) (not the entire value of the contractual interest accrued). or b) the contractual amount of the principal and of the interest accrued according to the contractual terms; in this case, the value of the accumulated impairment for this financial asset presented in the template F 04.04.1 would include the adjustment of the contractual interest (to attain the value of the interest revenue computed in accordance with IFRS 9 5.4.1(b)).

Background

The information reported in the template F 04.04.1 “Financial assets at amortised cost” permit an assessment of the overall quality of financial assets measured at amortised cost, broken down by type of instrument, type of counterparty and by impairment stages. According to the provisions of Appendix A – Defined terms of IFRS 9, the gross carrying amount of a financial asset is the amortised cost of the financial assets, before adjusting for any loss allowance. Our question relates to the value of the credit-impaired financial assets that should be disclosed in the column “Credit-impaired assets (Stage 3) [gross carrying amount]” of the template F 04.04.1.

Answer

The gross carrying amount of a credit-impaired financial asset measured at amortised cost (other than purchased or originated credit-impaired financial assets), reported in column 040 of  template F 04.04.01 of Annexes III and IV to Regulation (EU) No 680/2014 (ITS on Supervisory Reporting) ‘Financial assets at amortised cost” should be determined in accordance with the accounting rules.

Original source: European Banking Authority, Q&A ID 2017_3553

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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