Disclosure requirements relating to financial statements of banks and similar financial institutions had long been set forth by IAS 30. Commencing with years beginning on or after January 1, 2007, however, a new, unified financial instruments disclosure standard, IFRS 7, has superseded the former standard.   A broad definition of the term “bank” was set forth by IAS 30, and it covers all those enterprises (whether or not officially called a bank): Which are financial institutions, Whose principal activities are [...]