Financial services newsletter - Issue 2
Welcome to the second edition of our newsletter, where we cover some of the major developments across the financial services sector throughout the last quarter.
Financial reporting of European banks: benchmark study 2022
What are the lessons learned from the Covid-19 impact on Expected Credit Losses (ECL) of banks in Europe?
We have analysed the 2021 annual reports of 26 banks in 11 European countries to better understand the impact of Covid-19 on their expected credit losses and how it can help banks prepare as they face new challenges as a result of the war in Ukraine. This study is the fourth in its series and follows on our third edition of the report released in September 2021.
Download our interactive report
A focus on Expected Credit Losses
The study mainly focuses on the ECL-related impacts and covers:
- ECL charge impact of YE 2021 on the profit or loss and ECL allowances;
- ECL allowances: changes in coverage ratios and allocation between stages;
- Post-model adjustments/overlays;
- Other topics, incl. Non-Performing loans, green finance disclosures, significant increase in credit risk (SICR) criteria analysis, first review of banks’ exposure to the war in Ukraine and more.
Payments and Electronic Money Institutions
For several years, the Central Bank of Ireland has identified the Payments Institutions (PI) and Electronic Money Institutions (EMI) sector as higher risk. Earlier this year, we shared an opinion on the CBI’s stance. Today, we focus on one key area in this sector: Safeguarding.
Streamlining ART offerings & listings applications
This article focuses on the final set of RTS and ITS, which detail the information required for authorisation applications to offer ARTs to the public and for seeking admission to trade ARTs. It also covers the ITS on standard forms, templates, and procedures for application submissions.
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Michael Tuohy Partner, Audit & Assurance Dublin
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Sustainability & ESG
Sustainability and ESG must be at the heart of every organisation's business model
Responsible banking practices study 2021
Financial institutions increasingly recognise that climate change and other environmental, social and corporate governance risks jeopardise the world’s economy and financial system.
2021 financial reporting of European banks study
How did Covid-19 affect the 2021 half-year results of European banks?