Synthetic LIBOR and IAS: Difference between pages

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imported>Doug Williamson
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(Update for IAS 17.)
 
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''Interest rates - reference rates - LIBOR transition - Financial Conduct Authority.''
International Accounting Standard(s).


Proposals for the continued calculation and publication of a limited number of sterling and JPY rates under a changed methodology, after the cessation of the current LIBOR panels at the end of 2021.


''Certain International Accounting Standards have been withdrawn or superseded, including:


:<span style="color:#4B0082">'''''Key points for corporates from Edward Schooling-Latter's speech (FCA) - synthetic LIBOR'''''</span>
''IAS 3, IAS 4, IAS 5, IAS 6, IAS 9, IAS 11, IAS 13, IAS 14, IAS 15, IAS 17, IAS 18, IAS 22, IAS 25, IAS 30, IAS 31, IAS 35, IAS 39.''
 
:"While the FCA is also taking steps to provide a time limited safety net to help contracts that can’t be transitioned, this does not remove the need for firms to act.
 
:Certain, yet to be determined ‘tough legacy’ contracts will be allowed to use a synthetic LIBOR rate based on forward-looking term RFRs, so SONIA for sterling, plus the relevant ISDA spread adjustment."
 
:''ACT blog - Sarah Boyce - 15 July 2021''




== See also ==
== See also ==
* [[Benchmarks Regulation]]
* [[EFRAG]]
* [[Financial Conduct Authority]] (FCA)
* [[FAS]]
* [[ISDA spread adjustment]]
* [[Financial statements]]
* [[Legacy]]
* [[Financial Reporting Standard]] (FRS)
* [[LIBOR]]
* [[Generally accepted accounting principles]] (GAAP)
* [[Risk-free rates]] (RFR)
* [[International Accounting Standards]] (IAS)
* [[SOFR]]
* [[International Financial Reporting Standards]] (IFRS)
* [[SONIA]]
* [[Statement of financial accounting standard]]
* [[Transition risk]]
* [[Statement of Standard Accounting Practice]] (SSAP)
 
 
==External link==
 
[https://www.fca.org.uk/news/statements/fca-consults-proposed-decision-require-synthetic-libor-6-sterling-and-japanese-yen-settings FCA consults on proposed decision to require synthetic LIBOR for 6 sterling and Japanese yen settings]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Compliance_and_audit]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]
[[Category:Financial_products_and_markets]]

Latest revision as of 10:49, 5 October 2023

International Accounting Standard(s).


Certain International Accounting Standards have been withdrawn or superseded, including:

IAS 3, IAS 4, IAS 5, IAS 6, IAS 9, IAS 11, IAS 13, IAS 14, IAS 15, IAS 17, IAS 18, IAS 22, IAS 25, IAS 30, IAS 31, IAS 35, IAS 39.


See also