Transcript 10 號公報對金融產業的影響 行政院金融監督管理委員會 吳副主任委員當傑

財務會計準則公報第10、34、35
號公報對金融產業的影響
行政院金融監督管理委員會
吳副主任委員當傑
98年6月6日
大綱

會計語言的轉化

10、34、35號公報的核心價值

An Inconvenient Truth

What we should do
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Risk v.s. Uncertainty
Knightian
Uncertainty-Risk were
those where
decision
making was
made faced
with unknown
outcomes but
known ex-ante
probability
distributions
Uncertainty
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Risk v.s. Uncertainty



這次金融危機主因之一是人們對「不確定
性」毫無概念，他們完全沒意識到房地產
價格崩盤的可能性，也沒體認到銀行風險
管理機制的不適當。
我們應該關切價格偏離軌跡時的波動性，
而非軌跡本身的不確定性。
以買保險為例，或許有人有危機意識直覺
應該買個保險，但他們沒想到保險公司可
能也有破產的一天。
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會計語言的轉化
歷史成本
績效報導
可靠性
公平價值
決策價值
攸關性
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10、34、35號公報的核心價值
10號公報
存貨
34號公報
金融資產
如:放款、應
收款、債券
投資、衍生
性商品…
35號公報
固定資產
公
平
價
值
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An Inconvenient Truth

Truth 1:
 Schapiro has expressed doubts about
the pace her predecessor was pushing
for widespread adoption of IFRS.
 Herz , the chairman of FASB expressed
it will take 10-15 years in convergence。
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An Inconvenient Truth

Truth 2:
A recent change in US accounting rules
helped allowing Citi to lower its charges
for troubled securities by $613m, …
(from 2009.4.19.Financial Times)
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An Inconvenient Truth

Truth 3:
「導入IFRS保險業恐吹倒風」
「四大會計公報重擊○○獲利」
「10號公報像炸彈、政府應設紓困窗口」
(from 國內媒體)
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An Inconvenient Truth

Truth 4:
預定利率
利差損(益)
實際資金運用報酬率
保險業利差損問題，第40號公報何時實施???
Phase I:100年
Phase Ⅱ:undecided
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An Inconvenient Truth

Truth 5:
95年開始實施34號公報，為何金融業的放款及
應收款自100年才開始適用???
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An Inconvenient Truth

Truth 6~In Germany
Bank
Transfer
SPV lives for 20 years
Toxic assets
(similar to bad bank)
Payment 90% book value by
issuing new debts
(guarantee by government)
A giant accounting trick
1.Can banks record the shifting as a true sale?
2.Banks still bear the eternal losses from SPVs
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An Inconvenient Truth

Close your eyes for your eyes
will only tell the truth and the
truth isn’t what you want to see.
So close your eyes will easy to
pretend…
Legacy
assets
(From lyrics of musical night )

Truth is the only one. Ducking
out of the truth doesn’t mean it
doesn’t happen.
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What we should do
Concorde
What we learn…
Pilot
Bankers/Insurers…Talents?
??
maintenance
Government guarantee
Risk socialized but profit
remain private
Most sophisticate
(supersonic)
easy to maintain
but slower
(subsonic)
Most advanced financial
system reasonable
advanced but robust
financial system
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What we should do


IFRS adoption is an inevitable way
to be globalized.
Although delaying is another
thinking, we should recognize and
ascertain how much the impact will
be.
Accumulating enough
capital in good time is
necessary for soft-landing in
bad time.
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What we should do



Rule-based accounting shifting to
Principle-base accounting makes the
disclosure more important.
Professional judgment plays a
decisive role in enhancing the
transparency.
G20…call for standard-setters to
Reduce the complexity
Addressing issues related to loan-loss
provisioning.
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What we should do

IASB…committed to Fix the
accounting standards(IAS39—
Financial instruments: recognition
and measurement)…
Once
Comprehensively
In an urgent and responsible manner
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