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IFRS 7 — Servicing agreements

Date recorded:

The Committee was asked to clarify whether servicing agreements were within the scope of the transfer disclosures of IFRS 7.

In February 2013, the Committee reported the Committee’s discussion to the IASB. The IASB confirmed that their intention was that servicing arrangements would meet the definition of continuing involvement for the purposes of the IFRS 7 disclosures and that paragraph 42C includes servicing arrangements in the transfer disclosure requirements.

Accordingly, at this meeting the Staff proposed not to add the issue to the agenda.  Proposed wording for tentative agenda decision was also provided.

However, a Committee member questioned whether this should be better addressed via an amendment to IFRS 7 (vs. rejection notice). When put to vote, majority of the Committee members voted to amend IFRS 7.

Correction list for hyphenation

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