With timing tight for late starters and skilled resources being limited, it is worrying that many financial institutions still have not put into motion provisions to accommodate the new regulations IFRS9 will impose by 1 January 2018.
The requirements will significantly challenge how financial firms measure, account for and track the risks of the loans they hold. Full roll-out for all financial assets is required by the end of 2017, unlike Basel where firms could phase implementation and even exclude specific portfolios.
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