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EC's revised IAS 39 "carve-out" proposal

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29 Sep 2004

The European Commission has posted to its Internal Markets Website its revised proposal to adopt IAS 39 for use in Europe with two significant modifications that would (1) remove the IAS 39 fair value option as it applies to liabilities, and (2) facilitate the use of fair value hedge accounting for the interest rate hedges for core deposits on a portfolio basis.

The proposal will be considered by the EC's Accounting Regulatory Committee at a meeting on 1 October 2004. Click to download:

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