IFRS Loan Loss Provisioning

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Description

Currently, Romanian banks calculate provisions both according to NBR regulations(for prudential and fiscal purposes) and to IFRS (for reporting to their mother entities). This duplication will continue after Basel II implementation, unless the related regulations change.

Impact Drivers

  • Public: To align economic, prudential,and tax treatment and credit risk;to ease the reporting burden and associated compliance costs
  • Private: To keep a neutral stance in terms of prudential and credit risk monitoring and management as accounting standards shift to IFRS

Economics

To be estimated.

SPI Committee Involvement

To agree on a feasible conversion of prudential standards to reflect new accounting standards that would meet both business reality and supervisory objectives.

Management

Veronica Raducanescu

Project Owner (PO), Director National Bank of Romania

Oana Balanescu

Project Manager (PM), Head of Department, National Bank of Romania

Dana Zachi

Deputy Project Manager (DPM), Director Banca Comerciala Romana

Members

 

Antonella Rozolimo

Alphabank Romania, Arrears Officer

George Popescu

Expert, National Bank of Romania

Cristian Stefan

National bank of Romania

Teodora Grigori

Ministry of Public Finance

Javier De La Cruz

Project Technical Anchor, SPI

Luca Giannini

Project Peer Reviewer, SPI

Terms of Reference

Regulatory Impact Assessment

Technical Documents

SPI Committee Documents

Seminar on "International Experience with Provisioning in view of IFRS and Basel II Implementation"

Project Working Group Meetings