In March 2009, the Board published an exposure draft ('Derecognition ED') to replace the derecognition requirements of IAS 39 Financial Instruments: Recognition and Measurement and to improve the disclosure requirements in IFRS 7 Financial Instruments: Disclosures relating to the transfer of financial assets and liabilities. The comment deadline for the Derecognition ED ended on 31 July 2009. The Board has received 118 comment letters from a wide range of respondents (both by type, region and industry). The Board held public round tables to discuss the proposals in the Derecognition ED in June 2009 in Toronto, Tokyo and London. In addition to the round tables, the IASB staff also undertook an extensive outreach programme with users, preparers, auditors, trade associations, regulators and others.
At this meeting the Board discussed the feedback received from respondents to the Derecognition ED as well as from the extensive outreach program undertaken by the staff.
The Board did not make any decisions, but they will be discussing possible ways forward at the IASB meeting in October 2009.