IFRS 9: Financial Instruments (replacement of IAS 39)

Original publication

IFRS 9 Financial Instruments was published in November 2009 and contained requirements for financial assets. Requirements for financial liabilities were added to IFRS 9 in October 2010. Most of the requirements for financial liabilities were carried forward unchanged from IAS 39. However, some changes were made to the fair value option for financial liabilities to address the issue of own credit risk.

In December 2011, the Board amended IFRS 9 to require application for annual periods beginning on or after 1 January 2015 and to not require the restatement of comparative-period financial statements upon initial application. 

Limited amendments to IFRS 9

On 15 November 2011, the Board decided to consider making limited modifications to IFRS 9, and on 28 November 2012 the IASB issued an Exposure Draft Classification and Measurement: Limited Amendments to IFRS 9 (Proposed amendments to IFRS 9 (2010)).

The supplementary document Financial Instruments: Impairment was published in January 2011. The comment period closed on 1 April 2011 and redeliberations are on-going.

On 7 September 2012 the IASB posted to its website a draft of the forthcoming general hedge accounting requirements that will be added to IFRS 9 Financial Instruments.