Global Credit Data’s Richard Crecel and Daniela Thakkar discuss IFRS 9 benchmarking in Trade Finance Global Q&A

Speaking with Trade Finance Global, Global Credit Data’s (GCD) Executive Director, Richard Crecel and Membership and Methodology Executive, Daniela Thakkar, discuss IFRS 9 implementation, benchmarking, and how they collaborate and engage with regulators to ensure GCD’s data can be put to best use .

The IFRS 9 accounting standard, implemented following the financial crisis, requires a shift in the manner of assessing provisions by requiring that banks estimate their historic, current and projected losses – including a one-year and a life-time expected credit loss (ECL).

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