May 28 2020

IASB Exposure Draft ED/2020/1 on Benchmark reform (Phase 2)

The proposed changes (phase 2 of the IASB project) are intended to mitigate the effects that replacing an existing reference interest rate with an alternative interest rate will have on financial reporting at the time of the replacement. In its statement, the German Banking Industry Committee (GBIC) welcomes basically the IASB's proposals, but suggests some changes in detail.

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