The [IASB and FASB] boards will propose an impairment model based on accounting for expected losses. This approach provides a more forward looking approach to accounting for credit losses. It builds on the work of the Expert Advisory Panel, an external group comprising risk management experts that was set up to consider how to address the operational difficulties of applying an expected loss model.
The proposals respond to requests by the Group of 20 (G20) Leaders, the Financial Stability Board, the Basel Committee on Banking Supervision and others for the IASB and the FASB to reach a common solution for impairment accounting.
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