Has IFRS 9 met expectations?

The IASB is now beginning to assess whether the model is working as hoped

When IFRS 9, Financial Instruments, was being considered for adoption in the European Union, the overriding argument in its favour was its new credit loss model, which would mean that the G20 would no longer complain that banks' losses on their lending were being recognised in a way that was "too little, too late". The standard has been in use since 2018, and the board is now beginning to assess whether the model is working as hoped.