Nepal Rastra Bank has issued a circular dated 2074-08-14 requiring Commercial Banks to prepare NFRS (Nepal Financial Reporting Standards) Compliant Financial Statements from F.Y. 2017/18.
The circular also requires bank to publish fourth quarter results of 2074/75 following both NFRS and NRB Regulatory Framework. The fourth quarterly results of FY 2074/75 will be published under Nepal Financial Reporting Framework with a reconciliation of NFRS profits with regulatory profits. As per the circular, Regulatory Reserve and other NFRS adjustment reserves shall not to be part of Capital Adequacy calculation. The circular can be accessed here.