(4)Commission Regulation (EU) 2020/34 4 provides temporary and narrow exemptions to the hedge accounting requirements of International Accounting Standard (IAS) 39 Financial Instruments: Recognition and Measurement and International Financial Reporting Standard (IFRS) 9 Financial Instruments to address financial reporting consequences of the interest rate benchmark reform in the period before the replacement of an existing interest rate benchmark.
Recital 4
- 4 Commission Regulation (EU) 2020/34 of 15 January 2020 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard 39, International Financial Reporting Standards 7 and 9 ( OJ L 12, 16.1.2020, p. 5 ). ↩