Enumeration | Definition |
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Charge off and recoveries | If there is any reason there are any charge off and recoveries outside of Stage 3, then please include these here and include a comment in the comments tab to explain. |
Not open | Only relevant for the previous IFRS9 stage to indicate new business |
Stage 1 | Financial instruments that are classified as Stage 1 (performing) under IFRS 9. At this point 12 month expected credit losses are recognised and interest revenue is calculated on the gross carrying amount of the asset. |
Stage 2 | Financial instruments that are classified as Stage 2 (under performing) under IFRS 9. At this point lifetime expected credit losses are recognised and interest revenue is calculated on the gross carrying amount of the asset. |
Stage 3 | Financial instruments that are classified as Stage 3 (non performing) under IFRS 9. At this point lifetime expected credit losses are recognised and interest revenue is calculated on the net carrying amount of the asset. |
Unknown |