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August 2019 IASB meeting notes posted

  • IASB meeting (blue) Image

28 Aug 2019

The IASB, which normally does not meet in August, held an additional meeting on 28 August 2019 to discuss feedback received on ED/2019/1 'Interest Rate Benchmark Reform (Proposed amendments to IFRS 9 and IAS 39)'. We have posted our comprehensive Deloitte observer notes for this discussion.

The Board decided that the amendments will: include an exception to the requirement in IAS 39 for retrospective assessment when a hedge is temporarily outside the 80–125% range solely due to uncertainties arising from the reform; provide relief from the separately identifiable requirement for ‘macro hedges’; clarify when the relief ceases to apply to a group of items designated as the hedged item; clarify that the amendments would apply to hedges of both interest rate and foreign currency risks; and simplify the disclosure requirements.

The staff will prepare the final amendments for publication.

Please click to access the detailed notes taken by Deloitte observers for this discussion.

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