Leave it to technocrats?
Those who believe that governance by technocrat will solve Italy’s ills should think again. The IASB is currently working on a three-bucket approach for financial asset impairment. The idea is that newly originated or purchased loans – the model must work for both – are allocated by an entity to one of three buckets. And in very general terms, assets will move from one bucket to another in order to reflect deteriorating credit quality and credit losses. This is the board’s third stab at developing an impairment model since 2009.
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