Implementation of the requirements of international financial reporting standards and “Basel 3” in the credit policy of the bank

Abstract

Unsustainable development of the world and european economy significantly affects the economy of Ukraine and has a negative impact on the national banking system. In this regard the experience of foreign countries on applying of certain regulatory acts and implementation of these acts becomes an important tool to stabilize the economic and social development of the country. These regulatory acts include international financial reporting standards and “Basel 3”. However, there are no specific proposals for the implementation strategy in terms of investment lending for the real sector of the economy in the scientific literature. In this article, there are recommended approaches to the formation of such a strategy by dividing the participants of the process of investment lending on two groups: with the potential of investment objectivity and with the potential of investment subjectivity. For both groups the stages of various speeds and various levels of implementation of international financial reporting standards and of the “Basel 3” are defined. It is important for understanding of the processes of financial stabilization in Ukraine and other countries.