IASB amends IAS 39 to permit some reclassifications
Oct 14, 2008
The IASB has issued amendments to IAS 39 'Financial Instruments: Recognition and Measurement' and IFRS 7 'Financial Instruments: Disclosures' that would permit reclassification of some financial instruments out of the fair-value-through-profit-or-loss category and out of the available-for-sale category.
The amendments introduce into IFRSs the same possibility of reclassifications that is already permitted under US GAAP in rare circumstances. The amendments are effective 1 July 2008.
Click for IASB Press Release (PDF 168k).