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IFRS Developments Issue 165: IBOR reform: IASB publishes phase 2 exposure draft
On 9 April 2020, the IASB published the ED of phase two amendments to IFRS in response to Interbank Offered Rates (IBOR) reform.
The IASB’s Exposure Draft Interest Rate Benchmark Reform – Phase 2, Proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (the ED) addresses the accounting issues which arise when financial instruments complete the transition from IBOR to nearly risk free rates.
The comment period ends on 25 May 2020.