The International Financial Reporting Standards (IFRS) 9 accounting standard gives rise to impairments that are sensitive to the economic cycle. Rules around stage migration and the incorporation of forward-looking information lead to volatility in the impairments that is not always straightforward to explain. Impairment volatility and procyclicality are interlinked with the earnings quality of a bank. Research has shown that earnings volatility generally has a negative impact on firm value and share price and is considered a proxy for business risk. The impact of impairment volatility on earnings quality, together with the more detailed IFRS disclosure requirements, highlight the importance of banks being able to quantify, explain and manage the impairment volatility. This study explores the complex relationships between the different risk components that lead to impairment volatility. A Taylor series expansion is a useful tool to allocate changes in impairments to the different risk components. Finally, strategies to manage impairment volatility are explored.

国际财务报告准则 (IFRS) 9 会计准则会产生对经济周期敏感的减值。围绕阶段迁移和纳入前瞻性信息的规则会导致减值波动，这并不总是容易解释。减值波动性和顺周期性与银行的盈利质量息息相关。研究表明，盈利波动通常会对公司价值和股价产生负面影响，被视为商业风险的代表。减值波动对盈利质量的影响，以及更详细的 IFRS 披露要求，凸显了银行能够量化、解释和管理减值波动的重要性。本研究探讨了导致减值波动的不同风险成分之间的复杂关系。泰勒级数展开式是将减值变化分配到不同风险成分的有用工具。最后，探讨了管理减值波动的策略。