Norway


released today on its website (www.td.com/investor) proposed templates of the Supplemental Information and Supplemental Regulatory Capital Disclosure packages previously disclosed as one Supplemental Information package and updated to reflect the impact of the Bank’s adoption of IFRS 9, Financial Instruments (IFRS 9), which replaces the guidance in IAS 39, Financial Instruments: Recognition and Measurement (IAS 39).

The pre-quarter end release of these templates has been provided to help readers of the Bank’s financial statements better understand the impact of these changes. It is possible that the Supplemental Financial Information and Supplemental Regulatory Capital Disclosure packages for the first quarter of 2018 may reflect further refinements.

As disclosed in TD’s Fiscal 2017 Consolidated Financial Statements, the Bank has adopted IFRS 9 for the annual period beginning on November 1, 2017. IFRS 9 does not require restatement of comparative period financial statements. The Bank has made the decision not to restate comparative period financial information and has recognized any measurement differences between the previous carrying amount and the new carrying amount of financial instruments on November 1, 2017, through an adjustment to opening retained earnings. As such, fiscal 2018 results will reflect the adoption of IFRS 9 while prior periods reflect the results under IAS 39. On transition to IFRS 9, the Bank has made a decision to prospectively record the allowance for credit losses on performing and non-performing financial assets within the respective business segment in which the underlying financial asset is originated for segment reporting purposes.

The Bank expects to provide more information on the impacts of IFRS 9 in its Report to Shareholders for the first quarter of 2018.



Source link
(http://www.fintech.finance/01-news/td-bank-group-to-make-changes-in-the--of-certain-financial-information/)

LEAVE A REPLY

Please enter your comment!
Please enter your name here