- The IASB provides welcome relief from the discontinuation of hedge accounting if the derivative hedging instrument is innovated to a clearing counterparty, provided that certain criteria are met. Regulators are focusing on forbearance arrangements. We explore the related accounting and disclosure requirements.
- The IASB issues guidance on accounting for liabilities for levies in accordance with the provisions standard. Under this guidance, the recognition of levies in interim financial statements may result in uneven charges over the course of the year.
- IFRS 13 Fair Value Measurement, which is effective from 1 January 2013, provides a single source of guidance on fair value measurement and replaces the guidance that was previously dispersed throughout IFRS. We consider some of the implementation issues that banks may face.
- Following the issue by the IASB of its exposure draft ED/2013/3 Financial Instruments: Expected Credit Losses, many banks have been focusing on identifying crossovers and synergies between the proposals and the regulatory calculations under Basel.
If you would like further information on any of the matters discussed in this issue please contact Trevor Hoole.