Authors: Nikolaos Gerantonis, Evangelos Chytis

Title: Assessing The Impact of the Transition from IAS 39 to IFRS 9 on Greek Banks' Financial Statements

Abstract

Abstract

The implementation of IFRS 9 from 1/1/2018 changed the accounting framework relating to financial instruments, and in particular impairment methodology. The determination of the new selected business models requires new accounting treatments regarding the classification and measurement of financial instruments, defines a new framework for impairment and disclosures (with the incurred loss model being replaced by an expected credit loss (ECL) framework that incorporates forward-looking information), which changes the view of understanding to data especially in banks and financial institutions.

This paper examines the impact of the IFRS 9 implementation on Greek Banks’ financial statements scrutinizing their transition from IAS 39.

Keywords: International Financial Reporting Standards, IFRS 9, Greek Banks

JEL classifications M40,M41, M42