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ChartAcc.com - Victoria Saporta, Executive Director, Prudential Policy, Prudential Regulation Authority, recently sent a letter to major banks for disclosures on Expected Credit Loss under IFRS 9.

• Measurement uncertainty and sensitivity:
• To enable and produce the quantitative information about that sensitivity internally
• To report quantitative measurement uncertainty and sensitivity information from their 2018 (or 2018/2019) annual reports and accounts
• The use of Monte Carlo approaches:
• Firms' concern was the difficult of using above mentioned approach
• PRA concluded that few other firms are using so all are expected to provide comprehensive and appropriately focused way and at an appropriate level of granularity.

The 7 banks were addressed this letter which are as follows:

• Barclays plc, 
• HSBC Holdings plc, 
• Lloyds Banking Group plc, 
• Nationwide Building Society,
• Santander UK plc, 
• Standard Chartered PLC and 
• The Royal Bank of Scotland Group plc.

Courtsey: PRA

Budget 2015  ChartAcc.com

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