Impairments of Greek government bonds under IAS 39 and IFRS 9: A Case Study

Günther Gebhardt

No 30, SAFE White Paper Series from Leibniz Institute for Financial Research SAFE

Abstract: IFRS 9 introduces new impairment rules responding to the G20 critique that IAS 39 results in the delayed and insufficient recognition of credit losses. In a case study of a Greek government bond for the period 2009 to 2011 when Greece´s credit rating declined sharply, this study highlights the discretion that preparers have when estimating impairments. IFRS 9 relies more on management expectations and will lead to earlier impairments. However, these appear still delayed and low if compared to the fair value losses.

Keywords: IFRS 9; credit losses; government bonds (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-acc
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:safewh:30

DOI: 10.2861/787665

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