IASB Releases Proposal Related to Reform of Interest Rate Benchmarks

The IASB has published an exposure draft (ED), Interest Rate Benchmark Reform, that would amend IFRS 9 and IAS 39 in response to reforms made to interest rate benchmarks (e.g., interbank offered rates).

The purpose of the proposed amendments is to “provide relief from specific hedge accounting requirements that could have resulted in the discontinuation of hedge accounting solely due to the uncertainty arising from interest rate benchmark reform.”

Comments on the ED are due by June 17, 2019. For more information, see Deloitte’s IFRS in Focus newsletter as well as the press release and ED on the IASB’s Web site.