Amortised cost and impairment
The Board discussed the feedback received from the outreach efforts with preparers, auditors, regulators and users of financial statements. The staff also presented a summary of discussions to date from the Expert Advisory Panel. No decisions were made.
The Board discussed the feedback received to date from the outreach efforts with users of financial statements. No decisions were made.
Financial instruments: classification and measurement
At the February meeting, the Board tentatively decided to retain the existing classification and measurement requirements in IAS 39 for financial liabilities. However, the Board also tentatively decided to propose changes to the fair value option (FVO) in order to address widespread concerns about recognising gains or losses arising from changes in an entity's own credit risk.
Fair value option
At this meeting, the Board confirmed the tentative decisions about the FVO, but agreed to describe alternatives for particular aspects of the decisions and ask respondents for feedback.
In addition, the Board tentatively decided to propose full retrospective application for the proposals on the FVO.
Cost exception for particular derivative liabilities
The Board confirmed its previous decision that there will not be a cost exception for any derivative liabilities on investments in unquoted equity instruments.
The Board also decided that the transition for such derivative liabilities previously measured at cost should be the same as the requirements in IFRS 9 Financial Instruments for any derivative asset on investments that were in unquoted equity instruments previously measured at cost.
The Board tentatively decided to carry forward the subsequent measurement requirements in IAS 39 for loan commitment liabilities and financial guarantee contracts.