The International Accounting Standards Board (IASB) has published proposals to improve the implementation of IAS 39. If adopted the new proposals would enable fair value hedge accounting to be used more readily for a portfolio hedge of interest rate risk, according to IASB. The organisation noted that the Draft retains the basic principles behind IAS 39 while aiming to reduce the cost of compliance. It explained that the need for such guidance is driven by the increasingly prevalent use of financial instruments for both risk management and other operating purposes. At the end of 2002, the Bank for International Settlements estimated that the total notional amount of over-the-counter (OTC) derivatives contracts stood at US$141.7 trillion; the gross market values of those contracts was $6.4 trillion. Without a standard such as IAS 39, the impact of derivative contracts on an individual company’s accounts would be unknown to investors, and financial instruments would be shown in a company’s financial reports either at cost – which is generally zero – or not at all, said IASB.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more