Recital 2

(2)Furthermore, a new international accounting standard, International Financial Reporting Standard 9 (IFRS9), was adopted through Commission Regulation (EU) 2016/2067 ³ . This introduced new rules for the measurement of credit losses, and, as a result, directly impacts on the amount of own funds and regulatory ratios reported. It is therefore necessary to reflect such impact also on the reporting requirements under Implementing Regulation (EU) 2016/2070 by adding two new Annexes to that Regulation, one with the templates for reporting the IFRS9 impact and the other with the instructions for completing those templates.