#ifrs9

[peaks2tails]

IFRS9: Peak2Tails Provides full course on Credit Risk Modelling including Behavioral Scorecards, Basel, IFRS 9, CCAR, Structural Models etc. We provide sound mix of both theoretical and technical insights, with practical implementation of details in Excel.

[elmoacher]

الرقابة المالية: تطبيق معيار IFRS9 فرصة لتدعيم القدرة التنافسية لشركات التأمين

الرقابة المالية: تطبيق معيار IFRS9 فرصة لتدعيم القدرة التنافسية لشركات التأمين

نظمت الهيئة العامة للرقابة المالية برنامجا تدريبيا متخصصا للكوادر المهنية بشركات التأمين المصرية تضمن شرحًا كاملا ومفصلا لمعايير المحاسبة الدولية (IFRS 9) مع تحليل المتطلبات الخاصة به وشرح مفصل لمعيار (IFRS 17) وكيفية تطبيقه. وتم تنظيم البرنامج الذي استمر لمدة أربعة أيام تدريبية بهدف دعم االكفاءات المهنية والاطلاع على أحدث المستجدات الدولية، بالتعاون مع اتحاد المحاسبين والمراجعين العرب بمجلس…

[collab100]

With the proliferation of digital transformation and all of its related technology consisting of RPA, cloud, AI etc. Software companies are swiftly adapting their current product services to fulfil the brand new wave of business demands. SAP, the behemoth in the ERP area is not any exemption.   SAP’s middle ERP product has usually been ECC however over the years the software program large has invested in developing a shrewd ERP system. This new gadget isn't an upgrade to its middle ECC however an entirely new commercial enterprise suite with a simplified core, an in-memory database designed by way of SAP, a grade-A function-based user enjoys known as Fiori, and extra flexibility to integrate and amplify clever solutions within the cloud with SAP S/4HANA cloud platform. It is referred to as S/four HANA.

[collabandconvista]

Best ifrs 9 financial instruments | ifrs 9

Improve cash management by using flexible finance processes Best ifrs 9 financial instruments | ifrs 9. and eliminating data replication and redundancy But because financial data is foundational to so many business capabilities, many organizations take a finance-first approach, with SAP. Phone Number 8046818400 https://www.convista.in/s-4-hana-finance/

[samantilla]

Efectivo recibido vía transferencia electrónica

Nuevo post hoy en samuelmantilla.com:

Efectivo recibido vía transferencia electrónica, o: ¡Todavía estoy descubriendo algunos conceptos básicos!

El IFRIC recibió una solicitud acerca del reconocimiento de efectivo recibido vía un sistema de transferencia electrónica como liquidación por un activo financiero. ¿El conocimiento se realiza en la fecha de la transferencia electrónica o en la fecha en que se recibe el depósito en la cuenta bancaria?

En este punto uno podría haber imaginado que en lo que respecta a los asuntos básicos del reconocimiento de efectivo, no quedaría nada para discutir. Entonces, el problema puede reforzar que poco en contabilidad debe darse por sentado…

El análisis, realizado por John Hughes, puede leerlo en: https://www.samuelmantilla.com/post/efectivo-recibido-v%C3%ADa-transferencia-electr%C3%B3nica

[pavlovicivanrdc]

Da li će IFRS 9 sačuvati stabilnost finansijskog sektora u regionu i zašto možda neće?

Poslovanje i poslovni rezultati banaka podloga su za donošenje odluka značajnog broja subjekata, uključujući i kreatore ekonomskih i finansijskih politika, te nema sumnje da će oči svih njih i nas u narednom periodu biti uprte u finansijske izveštaje banaka.

Kada je implementiran, IFRS 9 je najavljen kao prevencija budućih negativnih dešavanja i finansijskih kriza poput one iz 2008. godine, a trebalo je da reši izazov kasnog priznavanja nastalih kreditnih gubitaka u kreditnom ciklusu koji je odlikovao prethodni IAS 39 standard. Konkretno to bi značilo da bi IFRS 9 okvir trebalo da prepozna i prizna troškove rizika dok još postoji profitabilnost iz koje bi se ti gubici mogli naplatiti i omogući bankama da u recesiju ne uđu značajno opterećene gubicima prethodnog perioda, a što u tim slučajevima verovatno vodi dodatnim uzdržavanjem od kreditne aktivnosti i produbljivanjem krize.

U ovom trenutku nema više nikakve sumnje da će Korona virus ozbiljno pogoditi privredu. Neminovan je pad potrošnje, obustave rada u fabrikama, prekinuti lanci dostave, a turistička industrija već je u ozbiljnim problemima. Udruženje hotelijera i restoratera Srbije već je ukazalo na ogromne probleme sa kojima se suočavaju, ali i zatražilo direktnu podršku države i odlaganje naplate investicionih kredita. Kao neko ko je godinama učestvovao u upravljaju troškovima rizika i implementaciji standarda u jednoj od najvećih CEE banaka prosto nemam dilemu da će banke morati trenutno da prepoznaju ozbiljne gubitke u svojim bilansima (prema standardu umesto 12-mesečnih priznati „life time“ gubitke na ovim izloženostima, pa i celim portfolijima kod kojih je došlo do značajnog povećanja kreditnog rizika u odnosu na inicijalno odobreni) što će neminovno dovesti do ozbiljnog pritiska na buduće planove i aktivnosti i staviti IFRS 9 na prvi veliki test od njegove implementacije.

Neke veoma grube procene ukazuju da bi profitabilne banke iz Srbije mogle iz svog jednogodišnjeg profita pokriti gubitke koji bi nastali prebacivanjem između trećine i četvrtine svog kreditnog portfolija iz performing (stage 1) u underperforming status (stage 2) što negde odgovara situaciji ozbiljne krize sa kojom ćemo se suočiti, te ukoliko imaju određenih rezervi u kapitalu (na šta već i regulator delimično može uticati) možemo računati na njihov puni doprinos makroekonomskoj stabilnosti. Sa druge strane, neprofitabilne banke će kompletan gubitak morati da pokrivaju iz postojećih i dodatnih izvora kapitala (osam banaka čije zbirno tržišno učešće iznosi 11,2% ostvarilo je negativan finansijski rezultat u prva tri kvartala 2019. godine) i neke od njih definitivno neće nastaviti sa poslovanjem. Komercijalna banka je na primer u periodu 2008.-2014. priznavala kreditne gubitke u iznosu od oko 10-20 mn EUR na godišnjem nivou, a onda je u 2015. i 2016. priznavala preko 100 mn EUR godišnje. Druge velike banke na našem tržištu su u tom periodu priznavale u proseku 20-50 mn EUR kreditnih gubitaka godišnje.

Kroz različite aranžmane (revizija, konsalting, IT implementacija, validacija, due diligence) imao sam priliku da vidim IFRS 9 metodologije dvocifrenog broja banaka u regionu i imajuću u vidu nesavršenost, kao i nezrelost tih metodologija izražavam bojazan da će dati prave rezultate i sačuvati stabilnost, dok će u nekim slučajevima samo stvoriti dodatne probleme. Optuživati u tom trenutku IFRS 9 da ne ispunjava očekivanja će biti slično tvrdnji da demokratija i kapitalizam nisu dali rezultate u našem regionu, a mogli bi odmah prepisati i odgovor da ne da nisu bili uspešni nego nisu ni zaživeli.  

Ne računajući nekolicinu banaka, najveći nedostatak u implementaciji je izostanak rejting/skoring modela pa samim tim i ispunjavanje zahteva kvantitativnog stage-inga i ugrađivanja forward looking informacija u isti što bi bili presudni elementi preciznosti i blagovremenosti prepoznavanja očekivanih kreditnih gubitaka, pa se može desiti slična situacija kao i u prethodnoj krizi da se gubici u finansijskim knjigama otkrivaju kasno i opterećuju poslovanje banaka u nekoliko narednih godina, ali i da pod pritiskom konzervativizma i nedostatka preciznih alata banke budu prinuđene da rezervišu mnogo više od potrebnog. U ovom trenutku manji nedostaci koji se mogu ispostaviti jako bitnim u periodu krize su u podacima slabo utemeljene LGD metodologije, uglavnom bez forward looking informacija, kao i izostanak POCI metodologije koja bi omogućila brzo izbacivanje loše aktive iz bilansa.

Na kraju verujem da će i banke koje do skoro nisu razmišljale o punoj upotrebi rejting/skoring modela u delu utvrđivanja značajnog povećanja kreditnog rizika o tome krenuti najozbiljnije da razmišljaju već nakon prvih meseci krize i svih dilema/izazova sa kojima će suočiti, ali je možda još bitnije da u smislu procesa i podataka urede procese pravovremenog identifikovanja problematičnih izloženosti, restruktuiranja i drugih strategija naplate kako ne bi dugoročno opterećivali nove plasmane upotrebom konzervativnih parametara rizika u budućim cenovnim i kreditnim politikama.

Svakako u ovom trenutku nam ostaje da se u značajnoj meri pouzdamo u common sense donosioca odluka vezano za mnoge aspekte očekivanih kreditnih gubitaka, kao i transparentne analize koje će svakako biti pod posebnim pritiskom regulatora i internih/eksternih revizora koji će prirodno osećati poseban pritisak javnosti za eventualne propuste u implementaciji standarda.

Autor: Ivan Pavlović

BDM for Banking Industry in Ibis Instruments (ex Head of Credit Risk Controlling and Risk Consultant)

[finprocounsulting]

Download PDF slides from the link below: https://drive.google.com/file/d/13nWq... Tried to summarize all the important concepts of IFRS 9 / Ind AS 109 within 2.5 hours for CA Final / ACCA Diploma IFRS / ACCA Professional Level SBR. This is part 1 covering all sub-topics of financial instruments except ECL and Hedge accounting.

[santoshbisp]

IFRS 9 Financial Instruments

In this video we will give you an overview about the IFRS9 Financial instruments. IFRS 9 'Financial Instruments' issued on 24 July 2014 is the IASB's replacement of IAS 39 'Financial Instruments: Recognition and Measurement'.

[medicalcodingjob]

Senior Analyst -€" Credit Risk Analytics

Senior Analyst -€” Credit Risk Analytics

PeopleGenius – Edinburgh – need skills and experience in the following: – Quant Degree – Maths, Stats, MORSE, SCORE, OPS Research, Management Science etc – A Developing knowledge of model requirements for IRB, IFRS9, forecasting and stress testing models as well as a practical understanding of credit risk modelling methodologies and validation. – Demonstrate an understanding of model review or…

[peaks2tails]

IFRS9: Peak2Tails Provides full course on Credit Risk Modelling including Behavioral Scorecards, Basel, IFRS 9, CCAR, Structural Models etc. We provide sound mix of both theoretical and technical insights, with practical implementation of details in Excel.

[aravfsmith-blog]

Launch date: 16 to 18th May 2017

Venue:  La Ville Hotel & Suites – Autograph Collection, CITY WALK Dubai, United Arab Emirates

View Details

[ededison1980]

Cheyne Capital Management: High-impact debt investor

The growth of non-bank lending in Europe is often mentioned as a trend that could radically transform the European economy. This remains to be seen, but if banks gradually give some of their dominance in the lending market, then firms such as Cheyne Capital Management stand to benefit.

Cheyne was founded in 2000 by Jonathan Lourie and Stuart Fiertz, two fellow graduates of Dartmouth College, an Ivy League university in New Hampshire. Lourie took the role of CEO and CIO, while Fiertz is Cheyne’s president and director of research. They had previously worked for Morgan Stanley in London, setting up and running the bank’s convertible bonds business for a decade.

At the time there was probably nothing unusual about two colleagues leaving a large investment bank to set up a hedge fund. Having chosen London as their base, the pair got caught up in an important structural trend. In the nearly two decades since its foundation, Cheyne has become one of the largest providers of specialised credit in Europe.

The growth of non-bank lending is likely to face resistance by businesses themselves, which may be reluctant to partner with non-bank entities. However, regulators are exerting pressure in favour of this trend by reducing the capacity of banks to lend. Fiertz points out that the IFRS9 accounting rules implemented in 2018 force banks to put up reserves against an expected loss for any credit that has broken a covenant. This creates an opportunity for external investors to buy the ‘stressed’ credit asset. Fiertz estimates the volume of these credits amounts to about €250bn at the European level and argues that stressed credit is a different proposition to investing in non-performing loans (NPLs). “We would sit down with borrowers, discuss the debt terms and the new liquidity line, giving every incentive for them to work with us. It is effectively a consensual restructuring that avoids the court process,” says Fiertz.

Cheyne has hired experts focusing on regional markets, from Spain to Germany, and found suitable businesses in various sectors of Europe’s medium-sized companies. The strategy, which Cheyne branded ‘strategic value credit’, was launched in May 2018. According to Fiertz, it is a seriously scalable strategy, where competition with large credit managers is less intense than in other sectors. It is also intended as a smart play for the later stages of the credit cycle.

The growth of the private debt market is intertwined with that of the private equity sector, as equity sponsors have started providing debt as well as equity. Fiertz argues that there are clear benefits from investing with a pure debt provider like Cheyne. Private equity sponsors tend to invest in the more liquid part of the market, where more leverage is needed to achieve attractive yields. Furthermore, he says: “We have seen many private debt operations being set up, with staff often coming from the leveraged finance teams of large investment banks.”

Cheyne is also known for its real estate lending. The firm’s real estate private debt strategy was launched in 2011, building on its expertise in real estate securities. Since then, the group has invested £2.5bn (€2.9bn) in 67 private real estate debt deals and has returned £1.7bn to investors to date. The portfolio consists of 40 deals, backed by assets mainly located in the UK.

The firm’s real estate group consists of 28 professionals. Cheyne invests across the entire real estate capital structure, including senior, mezzanine and whole loans, listed real estate securities like commercial mortgage-backed securities (CMBS) and residential mortgage-backed securities (RMBS). There is also a focus on ‘special situations’ like workouts, loan-to-own, debt for control and recapitalisations.

The securitisation market has suffered owing to the Solvency II rules, which penalise insurers for owning asset-backed paper. But by lending across the capital structure, and for different purposes, Cheyne can take advantage of different opportunities.

The yields in this sector are attractive, according to Fiertz. In the UK, a typical real estate refurbishment loan can yield 9%. With leverage, that goes up to 15%, but Fiertz points out that putting leverage on investments is not essential for Cheyne. As a market veteran, he has seen the damage that overleveraged strategies can do.

Demand for property debt is high and banks do not have competitive advantage in this area, because the UK regulator forces them to lend to cashflow-generative assets. Fiertz says Brexit has had a limited impact, mainly reducing loan-to-value (LTV) ratios. At the same time, this sector has not seen the degradation of lending standards that is clear in other more liquid loan markets, where ‘cov-lite’ loans are the norm. “We have a full set of covenants to ensure works are being done on time and on budget,” says Fiertz.

The real estate sector has seen fewer non-bank lenders being set up in recent years, compared with those focusing on corporate loans, according to Jonathan Lourie, Cheyne’s CEO. “Typically our clients are real estate entrepreneurs or companies where property is a major factor, such as healthcare companies or student housing operators. It is harder to end up in a competitive situation.”

Because Cheyne is known as a hedge fund it is perhaps surprising to learn that one of its flagship strategies involves impact investing. In late 2014, Cheyne launched a social property impact fund whose goal is to take advantage of huge shortage of affordable housing in the UK. “There are 1.15m households currently on the waiting list and just 47,000 new affordable homes were created in 2018, indicating a 24-year backlog,” says Lourie. The social impact strategy builds residential property and enters into long-term leases with counterparties such as councils, housing associations and charities to help meet their housing needs.

Cheyne is proud of its multi-strategy approach but it remains committed to fundamental credit research and to exploiting opportunities where market dislocations appear. Lourie has a particular liking for investment-grade credit at present, in which the firm invests solely through single name credit default swaps.

The firm continues to run its event-driven and long/short equities strategies that leverage on its broad research capabilities. With the ability to allocate dynamically across different sectors of the credit and equity markets, Cheyne hopes to satisfy the needs of many investors as the hunt for yield continues.

[erictheericworld]

Cheyne Capital Management: High-impact debt investor

The growth of non-bank lending in Europe is often mentioned as a trend that could radically transform the European economy. This remains to be seen, but if banks gradually give some of their dominance in the lending market, then firms such as Cheyne Capital Management stand to benefit.

Cheyne was founded in 2000 by Jonathan Lourie and Stuart Fiertz, two fellow graduates of Dartmouth College, an Ivy League university in New Hampshire. Lourie took the role of CEO and CIO, while Fiertz is Cheyne’s president and director of research. They had previously worked for Morgan Stanley in London, setting up and running the bank’s convertible bonds business for a decade.

At the time there was probably nothing unusual about two colleagues leaving a large investment bank to set up a hedge fund. Having chosen London as their base, the pair got caught up in an important structural trend. In the nearly two decades since its foundation, Cheyne has become one of the largest providers of specialised credit in Europe.

The growth of non-bank lending is likely to face resistance by businesses themselves, which may be reluctant to partner with non-bank entities. However, regulators are exerting pressure in favour of this trend by reducing the capacity of banks to lend. Fiertz points out that the IFRS9 accounting rules implemented in 2018 force banks to put up reserves against an expected loss for any credit that has broken a covenant. This creates an opportunity for external investors to buy the ‘stressed’ credit asset. Fiertz estimates the volume of these credits amounts to about €250bn at the European level and argues that stressed credit is a different proposition to investing in non-performing loans (NPLs). “We would sit down with borrowers, discuss the debt terms and the new liquidity line, giving every incentive for them to work with us. It is effectively a consensual restructuring that avoids the court process,” says Fiertz.

Cheyne has hired experts focusing on regional markets, from Spain to Germany, and found suitable businesses in various sectors of Europe’s medium-sized companies. The strategy, which Cheyne branded ‘strategic value credit’, was launched in May 2018. According to Fiertz, it is a seriously scalable strategy, where competition with large credit managers is less intense than in other sectors. It is also intended as a smart play for the later stages of the credit cycle.

The growth of the private debt market is intertwined with that of the private equity sector, as equity sponsors have started providing debt as well as equity. Fiertz argues that there are clear benefits from investing with a pure debt provider like Cheyne. Private equity sponsors tend to invest in the more liquid part of the market, where more leverage is needed to achieve attractive yields. Furthermore, he says: “We have seen many private debt operations being set up, with staff often coming from the leveraged finance teams of large investment banks.”

Cheyne is also known for its real estate lending. The firm’s real estate private debt strategy was launched in 2011, building on its expertise in real estate securities. Since then, the group has invested £2.5bn (€2.9bn) in 67 private real estate debt deals and has returned £1.7bn to investors to date. The portfolio consists of 40 deals, backed by assets mainly located in the UK.

The firm’s real estate group consists of 28 professionals. Cheyne invests across the entire real estate capital structure, including senior, mezzanine and whole loans, listed real estate securities like commercial mortgage-backed securities (CMBS) and residential mortgage-backed securities (RMBS). There is also a focus on ‘special situations’ like workouts, loan-to-own, debt for control and recapitalisations.

The securitisation market has suffered owing to the Solvency II rules, which penalise insurers for owning asset-backed paper. But by lending across the capital structure, and for different purposes, Cheyne can take advantage of different opportunities.

The yields in this sector are attractive, according to Fiertz. In the UK, a typical real estate refurbishment loan can yield 9%. With leverage, that goes up to 15%, but Fiertz points out that putting leverage on investments is not essential for Cheyne. As a market veteran, he has seen the damage that overleveraged strategies can do.

Demand for property debt is high and banks do not have competitive advantage in this area, because the UK regulator forces them to lend to cashflow-generative assets. Fiertz says Brexit has had a limited impact, mainly reducing loan-to-value (LTV) ratios. At the same time, this sector has not seen the degradation of lending standards that is clear in other more liquid loan markets, where ‘cov-lite’ loans are the norm. “We have a full set of covenants to ensure works are being done on time and on budget,” says Fiertz.

The real estate sector has seen fewer non-bank lenders being set up in recent years, compared with those focusing on corporate loans, according to Jonathan Lourie, Cheyne’s CEO. “Typically our clients are real estate entrepreneurs or companies where property is a major factor, such as healthcare companies or student housing operators. It is harder to end up in a competitive situation.”

Because Cheyne is known as a hedge fund it is perhaps surprising to learn that one of its flagship strategies involves impact investing. In late 2014, Cheyne launched a social property impact fund whose goal is to take advantage of huge shortage of affordable housing in the UK. “There are 1.15m households currently on the waiting list and just 47,000 new affordable homes were created in 2018, indicating a 24-year backlog,” says Lourie. The social impact strategy builds residential property and enters into long-term leases with counterparties such as councils, housing associations and charities to help meet their housing needs.

Cheyne is proud of its multi-strategy approach but it remains committed to fundamental credit research and to exploiting opportunities where market dislocations appear. Lourie has a particular liking for investment-grade credit at present, in which the firm invests solely through single name credit default swaps.

The firm continues to run its event-driven and long/short equities strategies that leverage on its broad research capabilities. With the ability to allocate dynamically across different sectors of the credit and equity markets, Cheyne hopes to satisfy the needs of many investors as the hunt for yield continues.

[finprocounsulting]

Download PDF slides from the link below: https://drive.google.com/file/d/13nWq... Tried to summarize all the important concepts of IFRS 9 / Ind AS 109 within 2.5 hours for CA Final / ACCA Diploma IFRS / ACCA Professional Level SBR. This is part 2 covering ECL and Hedge accounting.

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