Transition to IFRS 9 : Practical Guidance for the Foreign Reserves of Central Banks

Transition to IFRS 9 : Practical Guidance for the Foreign Reserves of Central Banks

This paper provides practical guidance to central banks on accounting practices for their foreign reserves, in connection with the transition from International Accounting Standard 39 Financial Instruments: Recognition and Measurement (IAS 39) to I...

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Main Author: Ha, Yunjung S.
Format: Report
Language:English
en_US
Published: World Bank, Washington, DC 2017
Subjects:
BANKS
ACCOUNTS
FINANCE
FORIEGN RESERVES
CASH
IFRS
ACCOUNTING STANDARDS
Online Access:http://documents.worldbank.org/curated/en/540621497852272579/Transition-to-IFRS-9-practical-guidance-for-the-foreign-reserves-of-Central-Banks
http://hdl.handle.net/10986/27471
id okr-10986-27471
recordtype oai_dc
spelling okr-10986-274712021-05-25T10:54:40Z Transition to IFRS 9 : Practical Guidance for the Foreign Reserves of Central Banks Ha, Yunjung S. BANKS ACCOUNTS FINANCE FORIEGN RESERVES CASH IFRS ACCOUNTING STANDARDS This paper provides practical guidance to central banks on accounting practices for their foreign reserves, in connection with the transition from International Accounting Standard 39 Financial Instruments: Recognition and Measurement (IAS 39) to International Financial Reporting Standard 9 Financial Instruments (IFRS 9). The IFRS 9 preparation process can be summarized in three steps: (1) business model assessment and cash flow characteristic test for classification, (2) impairment, and (3) transition and disclosure preparation. Relative to IAS 39, IFRS 9 is more principles-based, which requires substantive management judgment, such as defining the business model, assessing significance and impracticability in applying exceptions, and determining expected credit loss methodologies. This paper focuses on step 3, transition and disclosure preparation, with an overview of the IFRS 9 transition requirements. A case illustration of a central bank making the transition demonstrates how the process is likely to impact a central bank’s foreign reserve portfolio. 2017-06-29T20:49:13Z 2017-06-29T20:49:13Z 2017-06-14 Report http://documents.worldbank.org/curated/en/540621497852272579/Transition-to-IFRS-9-practical-guidance-for-the-foreign-reserves-of-Central-Banks http://hdl.handle.net/10986/27471 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Accounting and Auditing Assessment Economic & Sector Work
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic BANKS
ACCOUNTS
FINANCE
FORIEGN RESERVES
CASH
IFRS
ACCOUNTING STANDARDS
spellingShingle BANKS
ACCOUNTS
FINANCE
FORIEGN RESERVES
CASH
IFRS
ACCOUNTING STANDARDS
Ha, Yunjung S.
Transition to IFRS 9 : Practical Guidance for the Foreign Reserves of Central Banks
description This paper provides practical guidance to central banks on accounting practices for their foreign reserves, in connection with the transition from International Accounting Standard 39 Financial Instruments: Recognition and Measurement (IAS 39) to International Financial Reporting Standard 9 Financial Instruments (IFRS 9). The IFRS 9 preparation process can be summarized in three steps: (1) business model assessment and cash flow characteristic test for classification, (2) impairment, and (3) transition and disclosure preparation. Relative to IAS 39, IFRS 9 is more principles-based, which requires substantive management judgment, such as defining the business model, assessing significance and impracticability in applying exceptions, and determining expected credit loss methodologies. This paper focuses on step 3, transition and disclosure preparation, with an overview of the IFRS 9 transition requirements. A case illustration of a central bank making the transition demonstrates how the process is likely to impact a central bank’s foreign reserve portfolio.
format Report
author Ha, Yunjung S.
author_facet Ha, Yunjung S.
author_sort Ha, Yunjung S.
title Transition to IFRS 9 : Practical Guidance for the Foreign Reserves of Central Banks
title_short Transition to IFRS 9 : Practical Guidance for the Foreign Reserves of Central Banks
title_full Transition to IFRS 9 : Practical Guidance for the Foreign Reserves of Central Banks
title_fullStr Transition to IFRS 9 : Practical Guidance for the Foreign Reserves of Central Banks
title_full_unstemmed Transition to IFRS 9 : Practical Guidance for the Foreign Reserves of Central Banks
title_sort transition to ifrs 9 : practical guidance for the foreign reserves of central banks
publisher World Bank, Washington, DC
publishDate 2017
url http://documents.worldbank.org/curated/en/540621497852272579/Transition-to-IFRS-9-practical-guidance-for-the-foreign-reserves-of-Central-Banks
http://hdl.handle.net/10986/27471
_version_ 1764464811690688512

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