Determination of expected credit losses in light of the Covid-19 pandemic

Determination of expected credit losses in light of...

ESMA and IASB published short papers about IFRS 9 in light of the challenging environment.



Andrés Dezsényi


KPMG Hungária Kft.


ESMA and IASB recently published short papers about IFRS 9 in light of the challenging environment arising from Covid-19 pandemic. Both IASB’s and ESMA’s material focuses on the determination of expected credit losses (ECL). Both ESMA and IASB are working closely together with many prudential and securities regulators (including EBA) and IASB encourages entities to consider guidance issued by their respective regulators.

Accounting profession has been considering largely the same issues discussed in the papers, and many more, in relation to the accounting implications  of Covid-19. In light of IASB’s and ESMA’s material, it is worth summarising the main and some related topics and some thought about them regarding the accounting for ECL under IFRS 9. Mainly, but not only for the attention of banks and financial institutions.

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