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iGAAP Alert: January 2011

IASB issues Exposure Draft on Hedge Accounting

iGAAP Alert: November 2010

Background

The basic concepts in IAS 39 of fair value hedges, cash flow hedges and hedges of a net investment in a foreign operation are retained in the exposure draft. However, the proposed rules are more relaxed regarding what items can qualify for hedge accounting, what instruments can be designated and the effectiveness testing requirement.

As a result, many hedging relationships that do not currently qualify under IAS 39 would qualify under the ED’s proposals.

Please note that the ED proposes a new general hedge accounting model. Proposals for a new portfolio hedge accounting model are expected to be issued separately in 2011.

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