ISDA has responded to the International Accounting Standards Board’s IFRS 13 Post-implementation Review public consultation. Although our members are pleased with the principle-based approach used on the IFRS 13 standard to report fair value and the flexibility that it provides, our members are concerned with: (i) the costs associated with preparing the level 3 reconciliations; (ii) request to reconsider the use of P*Q for level 1 instruments, which assumes that the price that may be achieved for selling one share can also be achieved to sell a large holding; and (iii) recommends that any changes in this area should be coordinated with the Financial Accounting Standards Board.
Documents (1) for ISDA Responds to IFRS 13 Post-implementation Review
Latest
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.
ISDA/IIF Responds to the PRA Consultation
On July 30th, ISDA and IIF responded to the PRA consultation (CP10/25) on enhancing banks’ and insurers’ approaches to managing climate-related risks, which proposes updates to the Supervisory Statement 3/19 on climate-related risk management for banks and insurers. ISDA and...
ISDA Board Appoints New Chair
ISDA has announced that its Board of Directors has elected Amy Hong as its new Chair. Ms. Hong is Head of Strategy, Investments and Partnerships in the Global Banking & Markets division at Goldman Sachs, responsible for leading strategic initiatives...
Response on Scope of BMR
On July 28, ISDA and the Global Foreign Exchange Division of the Global Financial Markets Association responded to the European Commission’s (EC) consultation on the need to exempt spot foreign exchange (FX) benchmarks under Article 18a of the EU Benchmarks...