We have analysed the 2022 interim reports of 26 banks in 11 European countries to better understand the impact of macroeconomic uncertainties on Expected Credit Losses (ECL). This study is the fifth in its series and follows on our fourth edition of the report released in June 2022.
The Irish banks decreased their ECL allowance and coverage ratios in H1 2022, although they still take a more prudent approach when compared to their European peers. We are seeing relatively low weighting of economic uncertainty overlays, which although are justified, should still be closely monitored in subsequent quarters where macroeconomic situations may change rapidly.
Michael Tuohy Partner, Audit & Assurance
The study mainly focuses on the ECL-related impacts and covers:
Following the recent Compliance Institute event at Forvis Mazars, entitled "Stepping into a PCF Role under SEAR – Factors to Consider", attendees gained valuable insights into navigating the complexities of the Senior Executive Accountability Regime (SEAR).
The Central Bank of Ireland (CBI) released its Flood Protection Gap Report on 14 October 2024, shedding light on the extent of Ireland's flood insurance coverage gaps. The report examines both the current and future risks posed by inadequate flood protection, which affects some homes and businesses across the country.
Under EU Regulation 2023/1114, Markets in Crypto Assets Regulation (MiCAR) issuers of asset-reference tokens (ARTs) and electronic money tokens (EMTs) must create a redemption plan to ensure orderly token redemption if a competent authority determines the issuer may fail to meet payment obligations.
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