This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

EU banks' software assets over 3 years old should be written off, EBA says

( October 14, 2020, 13:08 GMT | Official Statement) -- MLex Summary: EU banks' software assets should be deemed amortized after a maximum of three years for prudential purposes, the European Banking Authority has said. Basing lifespans on accounting rules would require too much judgment and not reflect the limited resale value of software if the bank went under, the EBA said in final guidelines. Banks have argued for a more lax treatment of software, which is harder to value than physical assets like buildings and has previously been fully deducted from capital. Statement follows. The document is attached....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections