IFRS 9 For Financial Institutions
September 19, 2018 • Toronto
IFRS 9 for Financial Institutions – this one-day seminar takes a practical approach to essential aspects of IFRS 9, including how banks are tackling key judgments such as significant increase in credit risk and usuing scenarios in estimating probabilities of default.
CPE Hours: Course – 6 hours
The first half of the program provides hands-on expertise on how financial assets and liabilities are recognized under IFRS 9. Each type of financial instrument is dissected by using examples in which the accounting entries are covered in detail. For instance, a case study on Bank of America’s credit card portfolio highlights the P&L challenges when changing prepayment assumptions on credit card receivables.
The second half of the program covers impairments which includes special emphasis on significant increase in credit risk, the challenges in using Basel III’s probability of default and the challenges in building scenarios.
August 13, 2018
|F.I. Accounting for Banks||$1,099.00 +
|Both Course & Seminar||$3,299.00 + HST||$3,399.00 +
|Accounting for Derivatives||$2,199.00 + HST||$2,299.00 + HST||$2,399.00 + HST|
Our HST Number: R862562543
Group Discount: Fourth Delegate FREE!
If three individuals from one organization register at the same time, a fourth person may also be registered to attend free of charge. The free registration must be of equal or lesser value than the paid registrations. Please contact us to arrange for attendance of larger groups.
Your Registration Includes
Registration fees include all conference materials, continental breakfast, lunch and refreshments. Parking and accommodation are not included.
FREE CONFERENCE WORKBOOK
As a registered delegate, you will receive a complete set of conference materials. These materials will serve as an invaluable guide, both during and after the event. The workbook will be distributed on the morning of the first day beginning at 8:00 a.m.
Supplementary Text Included in Course Fees
All participants receive a copy of “Accounting for Derivatives – Advanced Hedging Under IFRS 9” Second Edition by Juan Ramirez.
Substitutions may be made at any time. If you are unable to attend, please make cancellations in writing and fax to (416) 504-6978 prior to 5:00 p.m. on September 4, 2018. A credit voucher will be issued to you for the full amount, redeemable against any other Acumen conference. If you prefer, you may request for a refund of fees paid less $250 administration fee. Registrants who cancel after above date will not be eligible to receive any credits or refunds and are liable for the entire registration fees.
Confirmed delegates who do not cancel before September 4, 2018, and fail to attend will be liable for the entire registration fees.
Acumen Information Services reserves the right to change the date, location and content for the event(s) offered herein without further notice and assumes no liability for such changes.
Early Bird Registration Discount
Register prior to to August 13, 2018, and you will obtain the following additional savings:
|Second delegate:||$50.00 Discount|
|Third delegate:||$75.00 Discount|
Please indicate that you are eligible for this offer on the registration page or your registration form if you are mailing in your registration.
The venue for this event is:
The Courtyard by Marriott
475 Yonge Street
Toll free - 1-800-847-5075
416 - 924-0611
Delegates can register at the Acumen service desk beginning at 8:00 a.m. on the morning of the first day of the conference. Registration fees do not include hotel accommodation.
- Introduction to IFRS 9
- Interaction with other IFRS standards
Financial Assets Recognition
- Financial assets classification under IFRS 9.
- Case study: recognition of a loan at amortised cost
- Case study: recognition of a debt instrument at fair value through OCI
- Case study: recognition of equity instruments
- Reverse repos - treatment of collateral
- Financial assets denominated in foreign currency
- Special situations in assets recognition: held to collect vs. sales, splitting portfolios, etc.
- Case study: Bank of America credit cards. Effects of changes in expected prepayments
Financial Liabilities and Off Balance Sheet Items Recognition
- Financial liabilities classification under IFRS 9
- Accounting for repos
- The fair value option - recognition of own debt
- Accounting for financial guarantee contracts and loan commitments
Derivatives, Hybrid Instruments, Hedge Accounting
- Accounting for derivatives. Adjustments to the valuation (CVA/DVA, FVA, etc)
- Hybrid instruments
- Hedge accounting types and application requirements
- Micro vs. macro hedge accounting
- Application of fair value option vs. hedge accounting
- Credit risk hedging
Impairment - IFRS 9 Model Overview
- The three bucket model
- Case study: recognition of an impairment charge
Expected Credit Losses
- 12 month expected credit losses - initial recognition/presentation of assets
- Lifetime credit losses
- Practical challenges in building scenarios
- Time value of money
- Expected life versus contractual period
- Treatment of collateral
- Undrawn commitments
- Exceptions: 12m PD as proxy for changes in lifetime credit losses, low credit risk, measurement for undrawn and drawn components of financial assets
Link With Basel III
- Asset recognition vs. banking/trading book under FRTB
- Differences between regulatory and accounting PDs
- Expected credit losses and standardised/IRB approaches for credit risk
Significant Increase in Credit Risk
- Link with PD
- Individual vs. portfolio level and grouping of individual items
- Missed payments vs. probability of default
Purchased or Originated Credit Impaired Debt Instruments
- Definition of "credit impaired"
- Initial and subsequent recognition - credit adjusted effective interest rate
- Application of the write-off criteria to impaired assets - interpretation of "no reasonable expection of recovering a financial asset"
Offsetting vs. Netting under IFRS 9
- Offsetting of derivatives
- Offsetting of repos
- Netting in practice
This Seminar runs from 9:00 a.m. – 4:30 p.m. including lunch as well as morning and afternoon breaks.
Note: The accounting considerations set out in this seminar are based on the instructor’s interpretation of IFRS. Institutions that the author is affiliated to can therefore by no means be associated with his
Juan Ramirez is a senior professional at Deloitte in London, advising clients on IFRS 9 and
Basel III/IV issues. Juan is involved in all elements of IFRS 9: impairment,
hedge accounting and financial instruments recognition/derecognition.
complex IFRS accounting and Basel III capital situations.
With an MBA from University of Chicago, Mr. Ramirez moved to London to
work at JPMorgan and later Lehman Brothers, Barclays Capital, Banco
Santander and BNP Paribas. He has devoted more than 20 years to derivatives
in front office positions, gaining a first-hand experience on market risk.
Mr. Ramirez is the author of “Accounting for Derivatives”, “Handbook of Corporate Derivatives
and Equity Capital Markets” and the upcoming “Handbook of Basel III Capital” published by
Who Should Attend
This conference has been specifically designed for, and in consultation with, experts in accounting for financial institutions as well as standard setters. The event has been developed with the professional responsibilities of our audience as our focus. As well, auditors, financial advisors, analysts, lawyers and other advisory professionals would benefit from staying current on the information provided at this timely event. In particular, our experience indicates that individuals in the following positions would mostly likely be in attendance:
- Chief Financial Officers
- Chief Risk Officers
- Chief Compliance Officers
- VPs, Directors and Managers
- Financial Reporting
- Regulatory Compliance
- Internal Auditors
- Audit Committee Members
- Corporate Counsel
- Risk Managers
- Audit and Assurance Professionals
- Industry Regulators and Standard Setters
- Financial Analysts
- Corporate and Securities Lawyers
Comments from Past Delegates to Acumen Conferences
"…provided a very good high level summary of the key impacts of IFRS to financial institutions.”
Associate Chief Accountant, Bank of Montreal
“Presentations were clear even though topics were complex.”
Chief Financial Officer, Société Générale
“Best conference I’ve ever attended.”
Senior Manager, Enterprise Hedge Accounting and Derivative Reporting, Royal Bank of Canada
“Suffice it to say that the conference delivered on my expectations…A lot has been taken away from this conference…$ well spent…”
V.P. Risk Management Advisory, New Brunswick Credit Union Stabilization Board
“Finally a course that communicates true technical knowledge”,
Director, Operations Finance NAV Canada
“This seminar was fantastic – very informative and has some extremely interesting and knowledgeable speakers.”
Manager, Corporate Accounting Brascan Power
“Great balance between theory and practical application/issues. Perfect level of detail…”
Treasury Manager CHC Helicopter Corporation
“Speakers were very knowledgeable, materials were current…examples and materials were relevant and well presented.”
Derivatives Accountant, Agrium Inc.
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• Cocktail reception
• Luncheon sponsorship
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• Booth/exhibit space
For more information, or to check availability,
please contact us by phone at (416) 504-6952
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