The European Securities and Markets Authority (ESMA) has issued a Public Statement on the Treatment of Forbearance Practices in IFRS Financial Statements of Financial Institutions. The statement deals with the definition of forbearance practices, their impact on the impairment of financial assets and thespecific disclosures relating to forbearance activities that listed financial institutions should include in their IFRS financial statements for the year ending 31 December 2012.
