Up until the IASB's April meeting, the Board had been targeting a mandatory effective date of 1 January 2015 for the near-final general hedge accounting model in the financial instruments standard (IFRS 9).
However, in a surprise move that was not exposed for comment, the Board has now decided to make the model optional until it has completed its separate project on macro hedging. This is likely to be some years away.
With its due process complete, the Board will now proceed to issuing the final general hedging standard.
Meanwhile, the Board also provided some clarity that the new offsetting disclosure requirements are not specifically required for condensed interim financial reports.