(9)The question whether and how the accounting treatment of portfolio hedging can be designed in such a way that it better reflects the particularities of banks operating in a fixed interest rate environment has been recognised as a significant issue by the IASB. The latter has created as a matter of priority a working group which is examining proposals made by European banks for the introduction into IAS 39 of a new hedge accounting method (interest margin hedge) which would reflect more closely the way in which these banks conduct their asset/liability management.