The International Accounting Standards Board
(IASB) recently issued an Exposure Draft, Interest Rate Benchmark Reform (Proposed amendments to IFRS 9 and IAS 39) available on the IASB website.
This Exposure Draft focuses on the issues affecting financial reporting in the period before the replacement of an existing interest rate benchmark with an alternative interest rate. More specifically, the proposed amendments to IFRS 9 and IAS 39 address concerns related to uncertainties arising from Interest Rate Benchmark Reform on the hedge accounting requirements in IFRS 9 and IAS 39.
The IASB’s Exposure Draft includes a Basis for Conclusions that is not part of this Exposure Draft. The Basis for Conclusions may provide useful information to stakeholders.