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L'impact macroéconomique de la norme IAS 39

Listed author(s):
  • Gwénaëlle Flandrin-Le Maire
Registered author(s):

    [fre] Cette étude présente les principaux avantages et inconvénients d'une évaluation des bilans selon le principe de la juste valeur et met en évidence l'impact macroéconomique lié à l'adoption de ces normes par les établissements de crédit. La comptabilisation au coût historique ne fournit certes pas toutes les informations nécessaires à l'appréciation des risques. Toutefois la juste valeur présente des inconvénients majeurs. Ce changement comptable impactera les résultats et les capitaux propres bancaires, mais aussi les ratios prudentiels. Sur le plan macroéconomique, le principe de juste valeur appliqué sans discernement risque de susciter une volatilité des fonds propres et des résultats bancaires qui irait à l'encontre de l'objectif de sécurité recherché par les normalisateurs comptables. Son application serait susceptible d'amplifier les cycles de crédit. Elle pourrait également conduire à un transfert du risque de taux sur les agents non financiers, voire à une réduction du volume des prêts. Classification JEL : G14, G21, M41 [eng] Macroeconomic impacts of the IAS 39 This study presents advantages and disadvantages of fair value balance sheet and highlights macroeconomic impacts of IAS standards on credit institutions. Historical cost model doesn't provide all needed information for risk measurement. However, fair value affords major disadvantages. This accounting change will act upon banking income and equity capital, but also prudential ratios. On macroeconomic point of view, implementing fair value without proper judgment risks to increase banking equity capital and income's volatility. Such a consequence isn't the accounting standards board's purpose. The fair value implementation could accentuate credit cycles. It could also transfer interest rate risks on non financial agents or decrease loan volume. JEL classifications : G14, G21, M41

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    Article provided by Programme National Persée in its journal Revue d'économie financière.

    Volume (Year): 71 (2003)
    Issue (Month): 2 ()
    Pages: 123-138

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    Handle: RePEc:prs:recofi:ecofi_0987-3368_2003_num_71_2_4850
    Note: DOI:10.3406/ecofi.2003.4850
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    1. Eccher, Elizabeth A. & Ramesh, K. & Thiagarajan, S. Ramu, 1996. "Fair value disclosures by bank holding companies," Journal of Accounting and Economics, Elsevier, vol. 22(1-3), pages 79-117, October.
    2. Berger, Allen N. & Herring, Richard J. & Szego, Giorgio P., 1995. "The role of capital in financial institutions," Journal of Banking & Finance, Elsevier, vol. 19(3-4), pages 393-430, June.
    3. Anil K. Kashyap & Jeremy C. Stein, 1994. "Monetary Policy and Bank Lending," NBER Chapters,in: Monetary Policy, pages 221-261 National Bureau of Economic Research, Inc.
    4. Boyd, John H. & Prescott, Edward C., 1986. "Financial intermediary-coalitions," Journal of Economic Theory, Elsevier, vol. 38(2), pages 211-232, April.
    5. Calomiris, Charles W & Kahn, Charles M, 1991. "The Role of Demandable Debt in Structuring Optimal Banking Arrangements," American Economic Review, American Economic Association, vol. 81(3), pages 497-513, June.
    6. Berger, Allen N. & King, Kathleen Kuester & O'Brien, James M., 1991. "The limitations of market value accounting and a more realistic alternative," Journal of Banking & Finance, Elsevier, vol. 15(4-5), pages 753-783, September.
    7. Geroski,Paul A. & Gregg,Paul, 1997. "Coping with Recession," Cambridge Books, Cambridge University Press, number 9780521622769.
    8. Allen, Franklin, 1990. "The market for information and the origin of financial intermediation," Journal of Financial Intermediation, Elsevier, vol. 1(1), pages 3-30, March.
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