On July 7, ISDA submitted a comment letter to the International Accounting Standards Board (IASB) in response to its exposure draft on ‘Amendments to the Classification and Measurement of Financial Instruments, Proposed amendments to IFRS 9 and IFRS 7’.

ISDA members support the IASB’s efforts to address the issues that have been identified in the course of the post-implementation review (PIR) of the IFRS 9 classification and measurement requirements and are grateful for the urgency with which the IASB has sought to address the issues associated with accounting for financial instruments linked to environmental, social and governance and the most common application challenges members face in assessing the contractual cashflow characteristics for non-recourse assets and contractually linked instruments.

Both of these were new topics beyond the scope of the PIR, but ISDA members requested to include them in the review.