On May 1, DEN FSA issued draft guidance on significant increases.
DEN FSA consulted on draft guide re significant increase in credit risk, deterioration.
Overview
Updated guidance takes into account experience with rules since current was issued.
Amendments are primarily based on DEN FSA's observations from the supervision of institutes' compliance with rules, respond to guidance's need in some specific areas.
It includes managerial estimates and assessment of significant increase in credit risk.
The improved guidance will replace Guidance 10161 of Nov. 28, 2017 on assessment of significant increase in credit risk and credit deterioration.
Effectiveness
Comments on the guidance will be received until Jun. 12, 2024; draft also sent to a number of organizations for consultation; expected entry into force date: Jan. 1, 2025.
Dec. 2024 Guidance Published
On Dec. 5, 2024, DEN FSA published guidance 10018 assessing significant increase in credit risk and credit deterioration, re Appendix 10 of the Order on Financial Reporting.
Guidance explains, clarifies the points of the Appendix 10; it applies on Jan. 1, 2025.
In Dec. 2024, DEN FSA issued letter on financial reporting for 2024, see #237038.
