Belarus National Bank approves partial transfer of securities transactions accounting to IFRS from Jan 1, 2022
<p> MINSK, Apr 7 - PrimePress. The National Bank of Belarus (NBB) within the framework of improving methodological support of accounting and approximation of international financial reporting standards (IFRS) has approved the instruction on accounting of securities transactions, and also amended a number of regulations. This is fixed by the resolution of the National Bank № 52 dated March 1, 2021, the press service of the regulator reports. </p> <p> </p> <p> The resolution was adopted as part of the National Bank’s strategy to apply IFRS in the banking system of Belarus for the period up to 2022, as well as the relevant section of the Basic Guidelines of the Monetary Policy of the Republic of Belarus for 2021. </p> <p> </p> <p> In accordance with the resolution, securities are accounted for at depreciated cost or fair value based on their classification and valuation under IFRS. This provides for the application of national legislation, including the creation by banks of special provisions for possible losses on securities. End </p>
2021-04-08
Primepress
Belarus National Bank approves partial transfer of securities transactions accounting to IFRS from Jan 1, 2022
MINSK, Apr 7 - PrimePress. The National Bank of Belarus (NBB) within the framework of improving methodological support of accounting and approximation of international financial reporting standards (IFRS) has approved the instruction on accounting of securities transactions, and also amended a number of regulations. This is fixed by the resolution of the National Bank № 52 dated March 1, 2021, the press service of the regulator reports.
The resolution was adopted as part of the National Bank’s strategy to apply IFRS in the banking system of Belarus for the period up to 2022, as well as the relevant section of the Basic Guidelines of the Monetary Policy of the Republic of Belarus for 2021.
In accordance with the resolution, securities are accounted for at depreciated cost or fair value based on their classification and valuation under IFRS. This provides for the application of national legislation, including the creation by banks of special provisions for possible losses on securities. End