OVERVIEW IFRS 9 : FINANCIAL INSTRUMENTS (ED PSAK 71)

AGENDA

Latar Belakang IFRS 9

Rencana Adopsi di Indonesia ED PSAK 71

Ruang Lingkup

Sekilas IFRS 9 : Klasifikasi dan Pengukuran

Sekilas IFRS 9 : Penurunan Nilai

Tidak membahas Lindung Nilai

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MENGAPA MUNCUL IFRS 9?

IAS 39 sulit untuk diterapkan karena standarnya sangat kompleks Krisis keuangan global tahun 2008, G20 meminta IASB untuk

menyederhanakan standar untuk instrument keuangan

Sejak tahun 2008 IASB mulai mereview ulang standar untuk instrument keuangan bertujuan mengganti IAS 39 dengan standard yang baru. IASB membagi project IFRS 9 menjadi 3 bagian

1. Klasifikasi dan Pengukuran

2. Penurunan Nilai

3. Akuntansi Hedging (Lindung Nilai)

IMPACT IFRS 9 TERHADAP PERBANKAN

Survey oleh Deloitte September 2015 :

 Bank membutuhkan persiapan 3 tahun untuk pindah ke IFRS 9

 Lebih dari 50% bank yang disurvey menyatakan bahwa provisi degan IFRS 9 akan naik sekitar 50%

 70% responden menyatakan provisi untuk credit loss

impairment akan lebih tinggi daripada yang diwajibkan oleh regulator

 56% bank memiliki concern mengenai data rekonsiliasi kredit dan kualitas data untuk kredit.

 85% respondent beranggapan provisi ECL akan lebih tinggi daripada ketentuan Basel 2, terutama untuk yang bucket 2

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PERKIRAAN IFRS 9 ADOPTION DI

INDONESIA

PENGES AHAN PUBL IC HEAR ING 14 Sept 2016 10 Okt 2016 TUT UP K O M ENT AR 31 Mar 2017 R a pa t Ti m B : K oment a r ED PSAK 71 5 Apr 2017 12 Apr 2017 PENGES AHAN Sosialisasi ED PSAK 71

sosialisasi, working group, analisa tanggapan

PRINSIP UTAMA IFRS 9

Klasifikasi dan Pengukuran

• Klasifikasi berdasarkan karakteristik arus kas dan

model bisnis perusahaan dlm pengelolaan asset

Penurunan Nilai

• Expected Loss Model

Akuntansi Hedging

• Menghubungkan akuntansi dengan rmanajemen

risiko

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TANGGAL EFEKTIF IFRS 9

IFRS 9 secara keseluruhan berlaku efektif mulai 1 Januari 2018

Khusus untuk industri asuransi, IASB sedang

mempertimbangkan tanggal efektif IFRS 9 ditunda sampai 2021. (dibahas dalam rapat IASB bulan September 2015)

Bila melihat niat DSAK untuk menjaga kesenjangan antara IFRS dan PSAK hanya 1 tahun, maka IFRS 9 kemungkinan akan berlaku efektif di Indonesia sejak 1 Januari 2019.

RUANG LINGKUP

IFRS 9 / ED PSAK 72 mencakup:

1.

Klasifikasi Aset dan Liabilitas Keuangan

2.

Penurunan Nilai

3.

Akuntansi untuk Penurunan Nilai

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RUANG LINGKUP IFRS 9

Semua instrument keuangan dalam lingkup IAS 39 Ditambah kontrak tertentu yang masuk pengecualian “own use”

Untuk pengakuan dan pengukuran ECL:

* Loan commitments not measured at FVTPL

KLASIFIKASI DAN

PENGUKURAN

Taking a Second Look…

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IAS 39 VS. IFRS 9

IAS 39 IFRS 9

Classification of financial assets

Four categories: -Fair value through profit or loss (FVTPL) -Loans and receivables -Held to maturity (HTM) -Available-for-sale

financial assets

Three categories: -Amortized cost -Fair value through other comprehensive income (FVTOCI)

-Fair value through profit or loss (FVTPL)

IAS 39 VS. IFRS 9

IAS 39 IFRS 9 Classification of financial liabilities Two categories: -Fair value through profit or loss (FVTPL) -Amortized cost

No change to

categories. However, for financial liabilities designated at FVTPL under the fair value option, the fair value changes arising from changes in the entity’s own credit risk are recognized in OCI.

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IAS 39 VS. IFRS 9

IAS 39 IFRS 9 Hybrid contracts (contracts with embedded derivatives) Separate (bifurcate) if the embedded derivative is not

closely related to the host contract and the entire contract is not measured at FVTPL. No separation (bifurcation) for financial assets. Separation (bifurcation) remains for financial liabilities and contracts for non-financial assets and

KATEGORI PENGUKURAN UTAMA

Amortised

Cost

FVOCI

FVTPL

Held To Maturity (HTM), Loans and Receivables and Available for Sale yang ada di IAS 39/PSAK 55, dihilangkan.

Embedded derivatives yang menempel pada instrument majemuk (hybrid instruments) di dalam IAS 39 harus diukur terpisah. Dalam IFRS 9, keseluruhan instrumen majemuk dinilai untuk mengklasifikasi asset.

KLASIFIKASI ASET FINANSIAL IFRS 9

KLASIFIKASI ASET KEUANGAN SESUAI

DENGAN IFRS 9

Business model = Hold to collect Business model: Hold to collect and sell Other Business Models

Cash flow are solely payment of principal

and interest (SPPI) Amortised Cost FVOCI* FVPL

Other types of cash

flow FVPL FVPL FVPL

*Kecuali untuk instrument ekuitas bisa memilih FVOCI atau FVPL

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CLASSIFICATION OF FINANCIAL

LIABILITIES

Financial liabilities

at amortized cost

Financial liabilities

at fair value

through profit or

loss (FVTPL)

Guidance on

specific financial

PENURUNAN NILAI IFRS 9

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EXPECTED LOSS MODEL

1. Forward Looking

2. Responsive terhadap perubahan risiko kredit

3. Merupakan usulan dari G20 dan pemangku kepentingan lainnya

4. Menggunakan “Three Buckets System”

5. Pengungkapan menjadi lebih baik

1. Mengilustrasikan bagaiaman entitas menerapkan persyaratan yg ada

MEASUREMENT OF FINANCIAL

INSTRUMENTS

Initial Measurement:

 At fair value, plus for those financial assets and liabilities not

classified at fair value through profit or loss, directly attributable transaction costs. Subsequent Measurement: Classification Valuation FV Changes Interest/ Dividends Impair-ment Forex FAFVPL FV PL PL PL PL

FAFVOCI FV OCI* PL PL/OCI PL/OCI

FAAC Amortized

Cost

None PL PL PL

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IMPAIRMENT OF FINANCIAL

INSTRUMENTS

Stage 1 2 3 Recognition of impairment 12 month expected credit losses

Lifetime expected credit loss

Recognition of interest

Effective interest on the gross carrying amount (before deducting expected losses)

Effective interest on the

net (carrying) amount

MODEL PENGUKURAN

Pengakuan Awal



Secara umum serupa dengan ketentuan IAS

39/PSAK 55

Kategori Subsequent Measurement Derecognition

Amortised Cost Gain and losses from interest

revenue, ECL and foreign

exchange are recognised in P&L

Any gains and losess goes to P&L

FVOCI Remeasurement of FV go to OCI Cumulative gain or loss in

OCI is reclassified from equity to P&L

FVTPL All gains and losses go to P&L All gains and losses go o

P&L Equity Investment – gains

and losses in FVOCI

Never classified to P&L.

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EXPECTED CREDIT LOSSES DISCLOSURES

Quantitative Qualitative

Reconciliation of opening to closing amounts of loss allowance showing key drivers of change

Write off, recovers and modifications

Reconciliation of opening to closing amounts of gross carrying amounts showing key drivers of change

Gross carrying amounts per credit risk grade

Inputs, assumptions and estimation techniques for estimating ECL

Write off policies, modification policies and collateral

Inputs, assumptions and estimation techniques to determine significant increases in credit risk and default

Inputs, assumptions and techniques to determine credit impaired

DISCLOSURES (CONT’)

Qualitative information related to the discount rate

Modifications of assets with lifetime losses

Balance of financial assets:

– defaulted assets

– 90 days past due that are measured with a 12

months’ expected credit loss measurement

objective

Interest revenue: Amount and measurement

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COMPONENTS OF THE GENERAL HEDGE ACCOUNTING MODEL Hedge accounting Objective Hedged items Hedging instruments Effectiven ess assesment Discontinua tion rebalancin g Groups and net position Presentation and disclosure Alternatives to hedge accounting

OVERVIEW HEDGING ACCOUNTING UNDER

IFRS 9

A more principles-based standard will align hedge accounting more closely with risk management

The types of hedging relationships – fair value, cash flow and foreign operation net investment – remain unchanged, but additional

judgement will be required

There are new requirements to achieve, continue and discontinue hedge accounting

 Hedge qualification will be based on qualitative, forward-looking hedge effectiveness assessments, rather than arbitrary bright lines

 Hedging relationships may need to be rebalanced, without terminating hedge accounting due to certain changes in circumstances

CONTOH STRATEGI MANAJEMEN RISIKO

DAN TUJUANNYA

Langkah-Langkah

Hedging Accounting

THANK YOU

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