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SUMMARY:WG IFRS 9 #11/2017: Summary BCBS TFP meeting
DESCRIPTION:Dear WG IFRS 9 members\, \nas communicated earlier\, GCD has been invited by the Basel Committee’s Task Force on Expected Loss Provisioning to present on data and methods used in IFRS 9 / CECL provision modelling. \nThe meeting took place on Tuesday\, October 10th\, 2017\, with more than 25 regulators present worldwide (incl. Fed\, OCC\, OSFI\, European Commission\, EBA\, PRA\, Bafin\, ..). Also all Big 4 accounting firms have been present as well as the IIF and various representatives from banks. \nOur presentation (attached for your reference) was very well received\, being often cited for the remainder of the day and with regulators praising the industry for taking the initiative to explore data and methods themselves. Please find attached also my personal notes of that day. \nI also attach the material presented by Ernst & Young . In case you are interested in the material of the IIF on procyclicality please contact Hassan Haddou (hhaddou@iif.com). \nThe meeting came at a time\, where we are busy with our IFRS 9 Benchmarking study. The regulators stressed the importance of getting good insights in what drives the variability between the banks and appreciated the initiative of the banks. Just in case your bank is not joining yet (at the moment 25 banks have indicated their participation)\, please here a introduction in the study. \nWe also welcome all feedback and comments on that day and invite you to a next meeting on THURSDAY\, OCTOBER19th\, 2017 at 0400 pm CEST (=10 am EST)\, where we can address all your questions. The link below books the meeting in your agenda. \nIf you cannot join the meeting but are interested please feel free to give me a call or write me an email. Also please feel free to pass the information along inside your bank. \nBest regards \nDaniela\n+ 31 6 395 503 22 \n////////////////////////////\nThursday\, October 19\, 2017\n4:00 pm | Europe Summer Time (Amsterdam\, GMT+02:00) | 1 hr\nMeeting number (access code): 959 387 607\nMeeting password: iceberg \nLink to start the meeting: \nhttps://pecdc.webex.com/pecdc/j.php?MTID=m2ec9998a50174a7281663677dd359ba8 \nLink to book the meeting in your agenda: \nhttps://pecdc.webex.com/pecdc/j.php?MTID=m06077a5ff50fbd37faf8117c712386ce \nJoin by phone\n+1 631 267 4890 USA/Canada toll\n+31 20794 7996 Netherlands toll \nGlobal Call-in numbers: \nhttps://pecdc.webex.com/pecdc/globalcallin.php?serviceType=MC&ED=538852667&tollFree=0 \n \nContact person: \nDaniela Thakkar  \nLocation: \nWebex call
URL:https://globalcreditdata.org/events/wg-ifrs-9-102017-bcbs-tfp-presentation/
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