Lunch Lecture ING

Would you like to know how ING is implementing the International Financial Reporting Standard (IFRS) 9? Did you know that it relates to the recognition of an entity’s financial asset/liability in its financial statement and includes an expected credit loss (ECL) framework for recognizing impairment.

The quantification of ECL is often broken down into its three components, namely, - the probability of default (PD), - loss-given default (LGD), - and exposure at default (EAD).

The IFRS 9 standard requires that the ECL model accommodate the influence of the current and the forecasted macroeconomic conditions on credit loss. This enables a determination of forward-looking estimates on impairments.

During the lunch lecture, we will be discussing the approaches we use in the bank to incorporate the forward looking macro-economic information in the IFRS9 expected credit losses models.

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