argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: ESMA - TLTRO III - IFRS

On January 6^th, 2021, the European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, published its public statement on the promotion of transparency in the International Financial Reporting Standards (IFRS) specifically for what concerns the banking sector for the accounting for the third series of the European Central Bank’s (ECB) Targeted Longer-Term Refinancing Operations, namely operations TLTRO III. In accordance with what was claimed in the public statement, there are differences concerning the accounting treatment of the ECB’s TLTRO III refinancing transactions by banks. In ESMA’s opinion, having considered the entity of the TLTRO III operations, the problem the statement refers to can indeed affect banks’ financial statements all across the European Union. Having taken that under consideration, in the public statement ESMA affirms that it is important to enhance a better and adequate level of transparency in relation to the accounting treatment of such transactions in the financial statements of banks.