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Summary/Abstract "IFRS 9 is the new accounting standard for the classification and measurement of financial instruments, issued in response to the mandate received from the G20 in the light of the performance of accounting standards during the global financial crisis. The European Union endorsed IFRS 9 in November 2016 for mandatory application from 1 January 2018 onwards. This ESRB report has been prepared following a request by the European Parliament to consider the financial stability implications of IFRS 9. It analyses two main aspects of IFRS 9 from a macroprudential angle and with a focus on banks: the new approach to the classification and measurement of financial assets and the new expected credit loss (ECL) approach for measuring impairment allowances. …"

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