Harmonising Basel III and the Dodd Frank Act Through International Accounting Standards - Reasons Why International Accounting Standards Should Serve as 'Thermostats' PDF Download
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Author: Marianne Ojo D Delaney PhD
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
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Why should differences between regulatory and accounting policies be mitigated? Because mitigating such differences could facilitate convergence - as well as financial stability.The paper “Fair Value Accounting and Procyclicality: Mitigating Regulatory and Accounting Policy Differences through Regulatory Structure Reforms and Enforced Self Regulation” illustrates how the implementation of accounting standards and policies, in certain instances, have contrasted with Basel Committee initiatives aimed at mitigating procyclicality and facilitating forward looking provisioning. The paper also highlights how and why differences between regulatory and accounting policies could (and should) be mitigated.This paper focuses on how recent regulatory reforms - with particular reference to the Dodd Frank Act, impact fair value measurements. Other potential implications for accounting measurements and valuation, will also be considered. Given the tendencies for discrepancies to arise between regulatory and accounting policies, and owing to discrepancies between Basel III and the Dodd Frank Act, would a more imposing and commanding role for international standards not serve as a powerful weapon in harmonizing Basel III and Dodd Frank - whilst mitigating regulatory and accounting policy differences?
Author: Marianne Ojo D Delaney PhD
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
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Book Description
Why should differences between regulatory and accounting policies be mitigated? Because mitigating such differences could facilitate convergence - as well as financial stability.The paper “Fair Value Accounting and Procyclicality: Mitigating Regulatory and Accounting Policy Differences through Regulatory Structure Reforms and Enforced Self Regulation” illustrates how the implementation of accounting standards and policies, in certain instances, have contrasted with Basel Committee initiatives aimed at mitigating procyclicality and facilitating forward looking provisioning. The paper also highlights how and why differences between regulatory and accounting policies could (and should) be mitigated.This paper focuses on how recent regulatory reforms - with particular reference to the Dodd Frank Act, impact fair value measurements. Other potential implications for accounting measurements and valuation, will also be considered. Given the tendencies for discrepancies to arise between regulatory and accounting policies, and owing to discrepancies between Basel III and the Dodd Frank Act, would a more imposing and commanding role for international standards not serve as a powerful weapon in harmonizing Basel III and Dodd Frank - whilst mitigating regulatory and accounting policy differences?
Author: Marianne Ojo D Delaney PhD
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Having considered a vital means whereby the Basel III framework and the Dodd Frank Act could achieve a respectable degree of harmonization, in the paper which precedes this, namely, the paper on “Harmonising Basel III and the Dodd Frank Act through International Accounting Standards - Reasons why International Accounting Standards Should Serve as “Thermostats”, this paper considers another important means of effectively achieving the aims and objectives of these important and major regulatory reforms aimed at achieving greater financial stability. In so doing, it will highlight challenges encountered by the Basel III framework, as well as that encountered by the Dodd Frank Act - particularly in the areas of enforcement, coordination and communication. In facilitating better enforcement, the need for high level principles, bright line rules and a more effective mandate will be emphasized. Furthermore, a system whereby greater collaboration between standard setters and national supervisors can be better facilitated requires effective coordination and communication mechanisms aimed at ensuring that vital decisions and information are communicated timely, accurately, effectively and completely.
Author: Marianne Ojo D Delaney PhD
Publisher:
ISBN:
Category :
Languages : en
Pages : 7
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Book Description
This paper aims to highlight why the harmonization of two major legislative frameworks, namely, Basel III and the Dodd Frank Act, will contribute immensely to resolving future global as well as regional financial crises.More specifically, the paper also aims to highlight the significance and importance of addressing the main transmission channels of financial instability and systemic risks at micro and macro prudential level as well as the need for consideration and redress of the obstacles confronted by Basel III - with particular regards to the impediment imposed by the Dodd Frank Wall Street Reform and Consumer Protection Act.
Author: Walter W. Eubanks
Publisher: DIANE Publishing
ISBN: 1437943489
Category :
Languages : en
Pages : 16
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Book Description
The new Basel Capital Adequacy Accord (Basel III) is an agreement among countries' central banks and bank supervisory authorities on the amount of capital banks must hold as a cushion against losses and insolvency. Basel III is of concern to Congress mainly because it could put U.S. financial institutions at a competitive disadvantage in world financial markets. This report follows the basic elements of the Basel III documents on the types of capital requirements and their phase-in schedule, which were approved by the Basel member central bank governors on September 12, 2010. The elements are the new definition of Tier 1 capital, the minimum common equity capital, the capital conservation buffer, countercyclical capital buffer, liquidity coverage ratio, global leverage ratio, and wind-down government capital injections. The report concludes with some implications drawn from its content.
Author: Nadia Cipullo
Publisher:
ISBN:
Category :
Languages : en
Pages : 5
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Book Description
Recent crisis has shown the failure of capital markets in satisfying the liquidity needs of agents. As a consequence, the Basel Committee on Banking Supervision is now paying attention to the matter of Liquidity Risk introducing provisions banks must comply with, in order to promote short-term and long-term resilience. At the same time, the IASB amended IAS 39 by introducing IFRS 9, which regulates the accounting treatment of financial instruments. Nevertheless the intent of the BCBS to discipline the Liquidity Risk and the effort of the IASB to introduce provisions designated to give relevant and useful information on the entity's future cash flows, there are some critical points associated with those requirements and coming from the combined observations of both disciplines. The problems that will highlight derive from the different objectives of the regulatory and the accounting frameworks. The first one is to serve the safety and soundness of banks and the other is to serve the public interest in terms of transparency. For this reason the IASB should think about the chance to issue a standard specific for the banking sector. Indeed, the management of financial instruments while represents the core business in the latter, has just a secondary role in non-financial entities, so it is desirable to have a differential treatment. Moreover, as the dual reporting deriving forms the differences in both disciplines may generate political costs, it could be useful to recompose the different perspectives providing a supplementary disclosure to justify the two special purposes.
Author: Financial Accounting Standards Board (U.S.)
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages :
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Author: International Accounting Standards Board
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 76
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Author:
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages :
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Author: International Accounting Standards Board
Publisher:
ISBN: 9781909704626
Category : Accounting
Languages : en
Pages : 200
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Author: International Accounting Standards Committee
Publisher:
ISBN:
Category :
Languages : en
Pages :
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