The rule’s LCR is based on a liquidity standard agreed to by the BCBS but is more stringent than the BCBS standard in several areas, including the range of assets that qualify as highquality liquid assets and the assumed rate of outflows for certain kinds of funding. In addition, the rule’s transition period is shorter than that in the BCBS standard.
Let me share with you our valuable experiences in adopting the standards in the financial industry. Adoption of IFRS in the financial industry– the Philippine experience It is fitting to say that the new accounting standards are a phenomenon. The changes infiltrated the backbone of financial reporting, which affected the way transactions are recorded and reported.