In a recent report, ‘ASIFMA IBOR Transition Readiness Survey Results and Action Plan,’ the Asia Securities Industry and Financial Markets Association (ASIFMA) and international law firm Ashurst have highlighted areas for concern and next steps as the Asia-Pacific financial industry navigates the final stages of the IBOR (Interbank Offered Rates) transition.
Late last year, following an accelerated amendment process, the International Accounting Standards Board (IASB) issued a package of amendments to the IFRS Standards designed to help ease the ongoing Inter-Bank Offered Rates (IBOR) transition. The amendments should ensure that investors and regulators have sufficient, useful information about the effects of the reform on entities.
The International Accounting Standards Board (IASB) has finalised its response to on-going Inter-Bank Offered Rates (IBOR) reform by issuing a package of amendments to the IFRS Standards.
The Financial Stability Board (FSB) has issued a statement emphasising the need to transition to LIBOR alternatives by the end of 2021, despite Covid-19 setbacks.
The International Accounting Standards Board (IASB) has published proposed changes to IFRS financial instruments standards IAS 39 and IFRS 9 that will allow hedge accounting to continue during the current reforms of interest rate benchmarks such as interbank offer rates (IBORs). After a series of scandals, the once-dominant LIBOR benchmark is being abandoned in favour […]