Commission Regulation (EU) No 2016/2067 of 22 November 2016

The Commission Regulation (EU) No 2016/2067 of 22 November 2016, published in the Official Journal of the European Union L 323 on 29 November 2016, adopts IFRS 9 Financial Instruments. The standard aims to improve the financial reporting of financial instruments by addressing concerns that arose in this area during the financial crisis. In particular, IFRS 9 responds to the G20′s call to move to a more forward-looking model for the recognition of expected losses on financial assets.

Each company shall apply the standard, at the latest, as from the commencement date of its first financial year starting on or after 1 January 2018.