Impairment of financial assets
Financial assets, other than those at FVTPL, are assessed for indicators of impairment at each balance sheet date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been impacted.
Objective evidence of impairment of financial assets could include:
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• | significant financial difficulty of the issuer or counterparty; or |
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• | default or delinquency in interest or principal payments; or |
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• | it becomes probable that the borrower will enter bankruptcy or financial re-organization. |
