Financial institutions that do business in multiple jurisdictions face an array of upcoming financial standards and regulatory rubrics: IFRS 9, CECL, BCBS 311, and guidelines from national authorities. Even slight discrepancies across jurisdictions are likely to create added confusion, work and expense for firms – on top of the impacts of implementation itself.
This new whitepaper examines how the various standards are being interpreted across a range of jurisdictions. We analyze some of the benefits and drawbacks of each standard, and the likely impacts for financial institutions. Finally, we explore some of the urgent actions that firms should take now – both to smooth their path to implementation, and to avoid creating more problems down the road.
The future is close – the time to prepare for the challenge is now.
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