This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IASB publishes amendments related to IBOR reform

  • IASB document Image

Sep 26, 2019

The IASB has issued “Interest Rate Benchmark Reform — amendments to IFRS 9, IAS 39 and IFRS 7.”

The amendments “are designed to support the provision of useful financial information by companies during the period of uncertainty arising from the phasing out of interest-rate benchmarks such as interbank offered rates (IBORs).” Specifically, the amendments:

  • Modify specific hedge accounting re­quire­ments so that entities would apply those re­quire­ments if the interest rate benchmark on which the hedged cash flows and cash flows from the hedging in­stru­ment are based will not be altered because of interest rate benchmark reform.
  • Apply to all hedging re­la­tion­ships that are directly affected by the interest rate benchmark reform.
  • Require specific dis­clo­sures about the extent to which the entities’ hedging re­la­tion­ships are affected by the amend­ments.

The amend­ments are effective for annual periods beginning on or after January 1, 2020, and must be applied ret­ro­spec­tively. Early ap­pli­ca­tion is permitted.

For more information, see the press release on the IASB’s Web site as well as the IAS Plus project page.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.