On July 17, ISDA submitted a comment letter to the International Accounting Standards Board (IASB) in response to its exposure draft, which seeks to address the accounting matters related to renewable electricity contracts and the impact on hedge accounting. ISDA provided additional information and proposed other instances, in addition to contracts for renewable electricity, where hedge accounting with a variable notional should be permitted, such as balance guaranteed swaps, and proposed to address this issue as part of the post-implementation review of International Financial Reporting Standard 9, hedge accounting, which is expected to begin later in 2024.
Documents (1) for ISDA Letter to IASB on Contracts for Renewable Electricity
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ISDA Response on Hedge Accounting Guidance
On August 14, ISDA responded to an exposure draft from the Financial Accounting Standards Board (FASB). ISDA broadly supports the FASB’s proposed targeted improvements to hedge accounting, including allowing interest rate hedging of held-to-maturity (HTM) debt securities, recognizing all Secured...
Joint Response to EBA Consultation
On August 12, ISDA and the Association for Financial Markets in Europe (AFME) responded to the European Banking Authority’s discussion paper on certain taxonomy key performance indicators (KPIs) and other aspects of the Disclosures Delegated Act under Article 8 of...
Response to JSCC on Clearing Fund Consolidation
On August 12, ISDA responded to the Japan Securities Clearing Corporation’s (JSCC) consultation on its proposal to consolidate clearing fund consumption, calculation and deposit segmentation across six clearing qualifications under the Financial Instruments and Exchange Act. ISDA members broadly support...
Response on CSDD Guidelines
On August 6, ISDA responded to the European Commission’s (EC) consultation on due diligence guidelines under the Corporate Sustainability Due Diligence Directive (CSDDD). While ISDA acknowledges that model contractual clauses can be a helpful resource for in-scope companies, there are...