Financial Services

What to consider when granting payment holidays under IFRS 9 — impact on ECL

In my previous article, I discussed the accounting considerations when assessing whether or not a substantial modification exists regarding COVID-19 measures taken by lenders, such as payment holidays or moratoria. As promised, in this article I will explore the impact of these measures on the expected credit loss (ECL) model in more detail. As communicate […]
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Getting fit for the future: the new reality of asset management

Changing business and operating models With the arrival of Covid-19, companies were forced to innovate…fast, finding new ways of getting things done to replace old methods that no longer worked. There were production and regulatory deadlines to meet. Operating models had to be adapted overnight so people across different supply chains and countries could w […]
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CSSF Circular 20/750 implements EBA Guidelines on ICT and security risk management in Luxembourg

On 25 August 2020, the CSSF published Circular 20/750 implementing the EBA Guidelines on ICT and security risk management in Luxembourg. These guidelines establish a consistent approach to the mitigation and management of these risks in all EU countries. Are you ready for the Circular? Download our self-assessment to assess your preparedness and define a resp […]

Granting payment holidays under IFRS 9 — substantial modification or not?

To mitigate the adverse economic effects of the COVID-19 pandemic, and in recognition of the financial stress that borrowers are facing, lenders have started providing measures to borrowers under their own pre-existing or new programs. These include debt renegotiations or cash flow rescheduling of the interest or principal. Additionally, governments and central […]

Can fintech lead innovation post Covid-19?

The article was originally published on kpmg.com by Anton Ruddenklau, Global Co-Leader of Fintech for KPMG International, and a Partner and the Head of Digital & Innovation for Financial Services in KPMG in the UK. The dotcom crash of the early 2000’s led to the creation of tech giants like Google; the global financial crisis of 2008/09 saw the emergenc […]

Taxation of dividends in India: the impact on Luxembourg investment funds

This article has been written together with Kadambari Chari. As market trends consistently show, investments in emerging markets are increasing in importance for the asset management industry, making it even more critical to keep up with the local changes and practices of those countries. At the same time, it incentivizes these markets to align their domestic p […]