According to IFRS9, the prospective test is, with a few exceptions, to be used for assessing the effectiveness of hedge relationships. In the second of two parts, we present the implementation of the prospective test according to the Risk Induced Fair Value approach as well as its challenges in implementation.
WeiterlesenThe IASB regulations in the IFRS 9 Standard came into effect within the EU on 1 January 2018 with the aim to replace the previous approach of the IAS 39. In hedge accounting, the prospective effectiveness test becomes increasingly important in this new standard. Companies are also given the option of initially continuing to account for the effectiveness of hedge relationships in accordance with IAS39. The first part of the two-part article presents the effect of the regulatory requirements on the prospective test.
WeiterlesenIn the course of teh transition to ISO20022, the European payments infrastructure will change fundamentally and enormous opportunities in terms of process efficiency and an optimized customer experience will open up. Even though the integration of the standard is not mandatory from a regulatory perspective: To keep pace with international developments, extensive implementation projects lay ahead of European banks. In this article, we provide a brief overview of what is at stake and when the changes will take effect.
WeiterlesenManagers of every level refer to the one or the other BI method to master the challenges of their daily work life and also the business departments employ BI techniques to get most out of their data. However, only few make use of the plethora of powerful self-service BI tools (SSBI tools) available on the market.
Thus, this article elaborates on the potential of BI in general and SSBI tools in particular. We summarize pros and cons and compare these to the well-known and very individual MS Excel & Access dashboard solutions.
WeiterlesenOpen Banking or API Banking - the opening of the traditional banking sector to third-party companies – has become a major topic in finance. It’s not only the new Payment Services Directive (PSD2) of the EU, affecting all banks located in the EU, that leads to an energized, pioneering atmosphere. More and more IT-driven developments result in banks having to deal with the question of how to position themselves in a future market with not only plenty of new business opportunities, but also numerous new competitors on the rise. Open Banking is certainly strongly transforming the financial sector. It challenges the traditional structures and has the potential to revolutionize the entire industry.
WeiterlesenIn financial industry, there’s hardly any topic that is being discussed more controversially than the PSD2, the "Payment Services Directive 2" of the EU. The directive entered into force on September 14, after a year and a half of preparation time. The new directive requires all banks in the EU to revise their security concepts and communication interfaces. This confronts institutions with the issue of an opening up of the industry to third-party providers and, in a broader context, the digitization and restructuring of the financial world.
PSD2 is the driving force of the concept of open banking in Europe and it is also shifting paradigms internationally.
WeiterlesenIn the world of established business processes, Robotic Process Automation (RPA), or short Robotics, is on everyone’s lips. As a tool to automate well-defined but time-consuming repetitive standard processes in a cost-effective way, RPA has versatile applications.
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