commiss regul ec novemb amend regul ec adopt intern account standard accord regul ec european parliament council intern financi report standard intern account standard no text eea relev commiss european commun regard treati establish european commun regard regul ec european parliament council juli applic intern account standard articl thereof commiss regul ec septemb adopt intern account standard accord regul ec european parliament council intern standard interpret extant septemb intern account standard ia ia relat interpret adopt case ia ia degre amend consid import consid inappropri adopt extant version standard time decemb intern account standard board iasb publish revis ia financi instrument recognit measur part iasb initi improv fifteen standard time compani adopt ia time purpos revis improv qualiti consist bodi exist iass ia revis decemb introduc option permit entiti design irrevoc initi recognit financi asset financi liabil measur fair gain loss recognis profit loss full quot fair option quot european central bank ecb prudenti supervisor repres basel committe secur regul express concern unrestrict fair option inappropri financi instrument relat compani liabil iasb recognis concern publish exposur draft april propos amend ia order restrict scope fair option order substant account guidanc financi instrument time applic commiss endors ia exclus provis relat full fair option hedg account commiss regul ec novemb amend regul ec adopt intern account standard accord regul ec european parliament council insert ia commiss consid exclus except temporari natur pend resolut outstand issu consult discuss light comment receiv exposur draft publish april discuss ecb basl committe seri roundtabl interest parti march iasb publish june amend ia financi instrument recognit measur fair option revis ia fair option restrict applic situat result relev inform elimin reduc significantli measur recognit inconsist quot account mismatch quot group financi asset financi liabil manag accord document risk manag invest strategi addit revis fair option permit entir combin contract embed deriv design financi asset financi liabil fair profit loss circumst applic revis fair option restrict case principl circumst respect lastli applic support adequ disclosur provis relat applic fair option financi liabil exclud regul ec insert full fair option regard financi asset endors regul ec subject principl base approach iasb acknowledg purpos prudenti supervis revis standard prevent prudenti supervisor evalu rigour fair measur practic regul financi institut robust underli risk manag strategi polici practic take action iasb agre disclosur assist prudenti supervisor evalu capit requir case recognit gain aris deterior credit stand studi context broader improv ia commiss monitor futur effect amend ia financi instrument recognit measur fair option examin applic scope review articl regul ec adopt amend ia impli consequ amend intern financi report standard ifr ia order ensur consist account standard concern light principl base approach fair option time adopt provid meaning initi financi statement compar inform provid retroact applic regul januari consult technic expert field confirm intern account standard ia amend ia financi instrument recognit measur fair option meet technic criteria adopt set articl regul ec requir conduc european public good regul ec amend measur provid regul accord opinion account regulatori committe adopt regul articl annex regul ec amend intern account standard ia amend set point annex regul text quot intern account standard ia amend ia financi instrument recognit measur fair option quot set point annex regul ad ia intern financi report standard ifr ia amend set point annex regul articl regul enter forc dai public offici journal european union appli januari regul bind entireti directli applic member state brussel novemb commiss charli mccreevi member commiss oj oj regul amend regul ec oj oj annex intern account standard financi instrument recognit measur amend paragraph text insert quot transfer asset measur amortis cost option standard design financi liabil fair profit loss applic liabil quot appendix applic guidanc text ag replac text quot hybrid instrument financi instrument holder put financi instrument back issuer exchang amount cash financi asset vari basi chang equiti commod index increas decreas quot puttabl instrument quot issuer initi recognit design puttabl instrument financi liabil fair profit loss requir separ embed deriv index princip payment paragraph host contract debt instrument paragraph ag index princip payment close relat host debt instrument paragraph ag princip payment increas decreas embed deriv option deriv index underli variabl quot text ad ia intern account standard ia titl quot ia financi instrument recognit measur addit provis fair option quot reproduct allow european econom area exist right reserv eea except reproduc purpos person fair deal inform obtain iasb www iasb org uk amend intern account standard financi instrument recognit measur fair option document set amend ia financi instrument recognit measur ia amend relat propos contain exposur draft propos amend ia fair option publish april entiti appli amend set document annual period begin januari paragraph part definit financi asset financi liabil fair profit loss replac definit definit categori financi instrument financi asset financi liabil fair profit loss financi asset financi liabil meet condit initi recognit design entiti fair profit loss entiti design permit paragraph result relev inform elimin significantli reduc measur recognit inconsist refer quot account mismatch quot aris measur asset liabil recognis gain loss base ii group financi asset financi liabil manag perform evalu fair basi accord document risk manag invest strategi inform group provid intern basi entiti kei manag personnel defin ia relat parti disclosur revis entiti board director chief execut offic ia paragraph ag requir entiti provid disclosur financi asset financi liabil design fair profit loss includ satisfi condit instrument qualifi accord ii disclosur includ narr descript design fair profit loss consist entiti document risk manag invest strategi invest equiti instrument quot market price activ market fair reliabl measur paragraph appendix paragraph ag ag design fair profit loss note paragraph appendix paragraph ag ag set requir determin reliabl measur fair financi asset financi liabil appli equal item measur fair design fair disclos paragraph ad embed deriv notwithstand paragraph contract embed deriv entiti design entir hybrid combin contract financi asset financi liabil fair profit loss embed deriv significantli modifi cash flow requir contract clear analysi similar hybrid combin instrument consid separ embed deriv prohibit prepay option embed loan permit holder prepai loan approxim amortis cost paragraph amend entiti requir standard separ embed deriv host contract unabl measur embed deriv separ acquisit subsequ financi report date design entir hybrid combin contract fair profit loss entiti unabl determin reliabl fair embed deriv basi term condit embed deriv base unquot equiti instrument fair embed deriv differ fair hybrid combin instrument fair host contract determin standard entiti unabl determin fair embed deriv method paragraph appli hybrid combin instrument design fair profit loss paragraph ad fair measur consider evid fair quot price activ market market financi instrument activ entiti establish fair valuat techniqu object valuat techniqu establish transact price measur date arm length exchang motiv normal busi consider valuat techniqu includ recent arm length market transact knowledg parti refer current fair instrument substanti discount cash flow analysi option price model valuat techniqu commonli market particip price instrument techniqu demonstr provid reliabl estim price obtain actual market transact entiti techniqu chosen valuat techniqu make maximum market input reli entiti specif input incorpor factor market particip set price consist accept econom methodolog price financi instrument period entiti calibr valuat techniqu test valid price observ current market transact instrument modif repackag base observ market data effect date transit paragraph amend paragraph ad standard appli entiti permit design previous recognis financi asset sale financi asset entiti recognis cumul fair separ compon equiti subsequ derecognit impair entiti transfer cumul gain loss profit loss entiti restat financi asset design compar financi statement disclos fair financi asset date design classif carri amount previou financi statement entiti appli paragraph ag ag ag ag amend paragraph annual period begin januari earlier applic encourag entiti appli paragraph ag ag ag ag amend paragraph annual period begin januari permit amend paragraph appli design fair profit loss previous recognis financi asset financi liabil qualifi design annual period begin septemb design complet septemb includ financi asset financi liabil recognis begin annual period septemb notwithstand paragraph financi asset financi liabil design fair profit loss accord subparagraph previous design hedg item fair hedg account relationship de design relationship time design fair profit loss disclos fair financi asset financi liabil design accord subparagraph date design classif carri amount previou financi statement de design financi asset financi liabil previous design fair profit loss qualifi design accord amend paragraph financi asset financi liabil measur amortis cost de design date de design deem date initi recognit disclos fair financi asset financi liabil de design accord subparagraph date de design classif entiti appli paragraph ag ag ag ag amend paragraph annual period begin januari de design financi asset financi liabil previous design fair profit loss qualifi design accord amend paragraph financi asset financi liabil measur amortis cost de design date de design deem date initi recognit design fair profit loss previous recognis financi asset financi liabil disclos fair financi asset financi liabil de design accord subparagraph date de design classif entiti restat compar financi statement design paragraph provid case financi asset financi liabil group financi asset financi liabil design fair profit loss item group met criteria paragraph ii begin compar period acquir begin compar period met criteria paragraph ii date initi recognit appendix paragraph ag ag ad appendix applic guidanc definit paragraph design fair profit loss ag paragraph standard entiti design financi asset financi liabil group financi instrument financi asset financi liabil fair profit loss provid result relev inform ag decis entiti design financi asset financi liabil fair profit loss similar account polici choic unlik account polici choic requir appli consist similar transact entiti choic paragraph ia account polici account estim error requir chosen polici result financi statement provid reliabl relev inform effect transact event condit entiti financi posit financi perform cash flow case design fair profit loss paragraph set circumst requir relev inform met choos design accord paragraph entiti demonstr fall circumst paragraph design elimin significantli reduc measur recognit inconsist aris ag ia measur financi asset financi liabil classif recognis determin item classif item part design hedg relationship requir creat measur recognit inconsist refer quot account mismatch quot absenc design fair profit loss financi asset classifi sale fair recognis directli equiti liabil entiti consid relat measur amortis cost fair recognis circumst entiti conclud financi statement provid relev inform asset liabil classifi fair profit loss ag exampl show condit met case entiti condit design financi asset financi liabil fair profit loss meet principl paragraph entiti liabil cash flow contractu base perform asset classifi sale insur liabil discretionari particip featur pai benefit base realis unrealis invest return pool insur asset measur liabil reflect current market price classifi asset fair profit loss mean fair financi asset recognis profit loss period relat liabil entiti liabil insur contract measur incorpor current inform permit ifr insur contract paragraph financi asset consid relat classifi sale measur amortis cost entiti financi asset financi liabil share risk interest rate risk rise opposit fair tend offset instrument measur fair profit loss deriv classifi held trade case requir hedg account met requir effect paragraph met entiti financi asset financi liabil share risk interest rate risk rise opposit fair tend offset entiti qualifi hedg account instrument deriv absenc hedg account signific inconsist recognit gain loss entiti financ portfolio fix rate asset classifi sale fix rate debentur fair tend offset report asset debentur fair profit loss correct inconsist aris measur asset fair report equiti debentur amortis cost ii entiti financ group loan issu trade bond fair tend offset addit entiti regularli bui sell bond rare bui sell loan report loan bond fair profit loss elimin inconsist time recognit gain loss result measur amortis cost recognis gain loss time bond repurchas ag case preced paragraph design initi recognit financi asset financi liabil measur fair profit loss elimin significantli reduc measur recognit inconsist produc relev inform practic purpos entiti enter asset liabil give rise measur recognit inconsist time reason delai permit provid transact design fair profit loss initi recognit time remain transact expect occur ag accept design financi asset financi liabil give rise inconsist fair profit loss elimin significantli reduc inconsist result relev inform accept design number similar financi asset similar financi liabil achiev signific reduct possibl greater reduct allow design inconsist assum entiti number similar financi liabil sum cu number similar financi asset sum cu measur basi entiti significantli reduc measur inconsist design initi recognit asset liabil individu liabil combin total cu fair profit loss design fair profit loss appli financi instrument entiti design liabil entireti design compon liabil attribut risk benchmark interest rate proport percentag liabil paragraph ii group financi asset financi liabil manag perform evalu fair basi accord document risk manag invest strategi ag entiti manag evalu perform group financi asset financi liabil measur group fair profit loss result relev inform focu instanc entiti manag evalu perform natur financi instrument ag exampl show condit met case entiti condit design financi asset financi liabil fair profit loss meet principl paragraph ii entiti ventur capit organis mutual fund unit trust similar entiti busi invest financi asset view profit total return form interest dividend fair ia invest associ ia interest joint ventur invest exclud scope provid measur fair profit loss entiti appli account polici invest manag total return basi influenc insuffici scope ia ia entiti financi asset financi liabil share risk risk manag evalu fair basi accord document polici asset liabil manag entiti issu quot structur product quot multipl embed deriv manag result risk fair basi mix deriv deriv financi instrument similar entiti origin fix interest rate loan manag result benchmark interest rate risk mix deriv nonderiv financi instrument entiti insur hold portfolio financi asset manag portfolio maximis total return interest dividend fair evalu perform basi portfolio held back specif liabil equiti portfolio held back specif liabil condit paragraph ii met asset insur manag evalu liabil fair basi condit paragraph ii met insur object maximis total return asset longer term amount paid holder particip contract depend factor amount gain realis shorter period year subject insur discret ag note condit reli entiti manag evalu perform group financi instrument consider subject requir design initi recognit entiti design financi instrument fair profit loss basi condit design elig financi instrument manag evalu ag document entiti strategi extens suffici demonstr complianc paragraph ii document requir individu item portfolio basi perform manag system depart approv entiti kei manag personnel demonstr perform evalu total return basi document requir demonstr complianc paragraph ii paragraph ag head paragraph ag ag ad instrument embed deriv ag entiti parti hybrid combin instrument embed deriv paragraph requir entiti identifi embed deriv assess requir separ host contract requir separ measur deriv fair initi recognit subsequ requir complex result reliabl measur measur entir instrument fair profit loss reason standard permit entir instrument design fair profit loss ag design paragraph requir embed deriv separ host contract prohibit separ paragraph justifi design hybrid combin instrument fair profit loss case set paragraph reduc complex increas reliabl standard monetari amount denomin quot currenc unit quot cu appendix amend standard amend appendix appli annual period begin januari entiti appli amend ia earlier period amend appendix appli earlier period amend ia financi instrument disclosur present paragraph amend accord ia entiti disclosur signific account polici includ gener principl adopt method appli principl transact event condit aris entiti busi case financi instrument disclosur includ criteria appli determin recognis financi asset financi liabil derecognis basi measur appli financi asset financi liabil initi recognit subsequ basi incom expens aris financi asset financi liabil recognis measur financi asset financi liabil design fair profit loss criteria design financi asset financi liabil initi recognit ii entiti satisfi condit paragraph ia design instrument design accord paragraph ia disclosur includ narr descript circumst underli measur recognit inconsist aris instrument design accord paragraph ii ia disclosur includ narr descript design fair profit loss consist entiti document risk manag invest strategi iii natur financi asset financi liabil entiti design fair profit loss paragraph amend subparagraph renumb financi asset financi liabil fair profit loss paragraph ag entiti disclos carri amount financi asset classifi held trade ii financi liabil classifi held trade iii financi asset initi recognit design entiti financi asset fair profit loss financi asset classifi held trade iv financi liabil initi recognit design entiti financi liabil fair profit loss financi liabil classifi held trade entiti disclos separ net gain net loss financi asset financi liabil design entiti fair profit loss entiti design loan receiv group loan receiv fair profit loss disclos maximum exposur credit risk paragraph report date loan receiv group loan receiv ii amount relat credit deriv similar instrument mitig maximum exposur credit risk iii amount chang period cumul fair loan receiv group loan receiv attribut credit risk determin amount chang fair attribut market condit give rise market risk altern method faithfulli repres amount chang fair attribut credit risk iv amount chang fair relat credit deriv similar instrument occur period cumul loan receiv design entiti design financi liabil fair profit loss disclos amount chang period cumul fair financi liabil attribut credit risk determin amount chang fair attribut market condit give rise market risk paragraph ag altern method faithfulli repres amount chang fair attribut credit risk ii differ carri amount financi liabil amount entiti contractu requir pai matur holder oblig entiti disclos method compli requir iii ii entiti consid disclosur compli requir iii faithfulli repres chang fair financi asset financi liabil attribut credit risk reason reach conclus factor entiti believ relev paragraph ag amend ag entiti design financi liabil loan receiv group loan receiv fair profit loss requir disclos amount chang fair financi instrument attribut credit risk altern method faithfulli repres amount entiti requir determin amount amount chang fair financi instrument attribut market condit give rise market risk market condit give rise market risk includ benchmark interest rate commod price foreign exchang rate index price rate contract includ unit link featur market condit includ perform intern extern invest fund relev market condit financi liabil observ benchmark interest rate amount estim entiti comput liabil intern rate return start period observ market price liabil liabil contractu cash flow start period deduct rate return observ benchmark interest rate start period arriv instrument specif compon intern rate return entiti calcul present cash flow liabil liabil contractu cash flow start period discount rate equal sum observ benchmark interest rate end period instrument specif compon intern rate return start period determin amount determin adjust cash paid receiv liabil period increas reflect increas fair aris contractu cash flow period closer due date differ observ market price liabil end period amount determin chang fair attribut observ benchmark interest rate amount disclos assum fair aris instrument credit risk interest rate signific instrument contain embed deriv chang fair embed deriv exclud determin amount paragraph amend ifr time adopt intern financi report standard paragraph amend design previous recognis financi instrument ia financi instrument recognit measur permit financi asset design initi recognit sale financi instrument provid meet criteria design financi asset financi liabil fair profit loss requir except appli circumst entiti permit make sale design date transit ifrss entiti present ifr financi statement annual period begin septemb entiti permit design date transit ifrss financi asset financi liabil fair profit loss provid asset liabil meet criteria paragraph ii ia date entiti present ifr financi statement annual period begin januari septemb entiti permit design date transit ifrss financi asset financi liabil fair profit loss provid asset liabil meet criteria paragraph ii ia date date transit ifrss septemb design complet septemb includ financi asset financi liabil recognis date transit ifrss septemb entiti present ifr financi statement annual period begin januari appli paragraph ag ag ag ag amend paragraph ia entiti permit start ifr report period design fair profit loss financi asset financi liabil qualifi design accord amend paragraph date entiti ifr report period begin septemb design complet septemb includ financi asset financi liabil recognis begin period septemb entiti restat compar inform ia restat inform financi asset financi liabil group financi asset financi liabil design start ifr report period restat compar inform made design item group met criteria design paragraph ii ia date transit ifrss acquir date transit ifrss met criteria paragraph ii date initi recognit entiti present ifr financi statement annual period begin septemb notwithstand paragraph ia financi asset financi liabil entiti design fair profit loss accord subparagraph previous design hedg item fair hedg account relationship de design relationship time design fair profit loss design financi asset financi liabil entiti permit design previous recognis financi asset financi liabil financi asset financi liabil fair profit loss financi asset sale accord paragraph entiti disclos fair financi asset financi liabil design categori date design classif carri amount previou financi statement