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Financial Instruments (replacement of IAS 39)

IASB meeting summaries and observer notes

 IASB / FASB January 2010



Financial instruments: classification and measurement

Financial liabilities

The boards reviewed their respective prior discussions related to the classification and measurement of financial liabilities. No decisions were made.

Financial instruments: hedge accounting

The boards discussed possible timelines for completing the hedge accounting phase of the joint financial instruments project and the issues that might be addressed under each timeline. The boards tentatively decided to address hedge accounting comprehensively. However, in light of the FASB's goal to publish a comprehensive exposure draft on financial instruments in March 2010, and of the IASB's goal to publish in the first quarter of 2010 an exposure draft on the remaining main phases of the project to replace IAS 39, the boards will first jointly consider hedge accounting issues relating to financial hedged items, together with issues that are more directly related to the boards' respective decisions to date on the classification and measurement models for financial instruments.

The boards will subsequently discuss other hedge accounting issues, including hedge accounting for non-financial hedged items and portfolio hedge accounting. The boards expect to address all hedge accounting issues in the first half of 2010.


Date: 1/20/2010