New integrations to the provisions of measure “l bilancio degli intermediari IFRS diversi dagli intermediari bancari” concerning the Coronavirus
Bank of Italy has integrated the provisions of measure “l bilancio degli intermediari IFRS diversi dagli intermediari bancari” to provide information about the Coronavirus effects and the support measures to economy.
The Supervisor Authority has taken into account the following factors:
- the documents published by the european supervisor authorities and the standard setter aimed at clarifying the implementing rules of the IAS/IFRS in the current context (especially the IFRS 9);
- the information required by the amendment to the IFRS 16 about the concessions of the rental fees connected to the Coronavirus;
- the new request of the IFRS 7 for determining the interest rate.
The application of the new provisions
The new provisions apply by the closed annual accounts or within the year ending on 31 December 2020, except for the comparative information referring to the previous year and the information concerning the write-off will have to apply by the closed annual accounts or within the year ending on 31 December 2021.
- Because of the coronavirus emergency, the integrations to these provisions will remain in force until a new communication by Bank of Italy
- The integrations to the reform of the benchmarks will be incorporated in the measure “l bilancio degli intermediari IFRS diversi dagli intermediari bancari”, until the next update.
Read or download here:
Bank of Italy communitaion – 27th January, 2021