Since November 2008, the IASB has been working to replace its financial instruments standard (IAS 39) with an improved and simplified standard. The IASB has structured its project to replace IAS 39 in three phases:
In addition, the IASB undertook a related project on offsetting of financial assets and financial liabilities.
*IFRS 9 (2013) removed the previous 1 January 2015 mandatory effective date of IFRS 9. At the IASB’s February 2014 meeting, the Board tentatively decided that the mandatory effective date of IFRS 9 should be 1 January 2018, but that the final effective date will be determined when the classification and measurement and impairment chapters of IFRS 9 are finalised.
Source: IASB work plan – as at 24 June 2014