IASB and FASB Propose to Align Balance Sheet Netting Requirements
28 Apr 2011
Source: IFRS
Deadline: 28 April 2011
In response to stakeholders’ concerns (including those of the Basel Committee on Banking Supervision and the Financial Stability Board), the boards decided to jointly issue a separate exposure draft proposing changes to address differences in their standards on balance sheet netting of derivative contracts and other financial instruments that can result in material differences in financial reporting by financial institutions. The boards understand the importance of this issue, which is one of the more significant financial instrument presentation differences between IFRSs and US GAAP.
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