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 (Text with EEA relevance) (revoked)

EU Regulation 2020/34 · Adopted 15 January 2020 · Extends to United Kingdom

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

(Text with EEA relevance) (revoked)

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Annotations to the whole text

Textual amendments

F1: Regulation revoked (8.3.2021) by The European Grouping of Territorial Cooperation and Limited Liability Partnerships etc. (Revocations and Amendments) (EU Exit) Regulations 2021 (S.I. 2021/153), reg. 1, Sch. Table 2 (with reg. 2(3))

1Article 1 Repealed
2Article 2 Repealed
3Article 3 Repealed
Signature
Annex: Interest Rate Benchmark Reform Repealed
Amendments to IFRS 9, IAS 39 and IFRS 7 Repealed
Amendments to IFRS 9 Financial Instruments Repealed
Chapter 6 Hedge accountingDivision Chapter 6 Hedge accounting Repealed
Chapter 7 Effective date and transitionDivision Chapter 7 Effective date and transition Repealed
Amendments to IAS 39 Financial Instruments: Recognition and Measurement Repealed
HEDGING Repealed
Temporary exceptions from applying specific hedge accounting requirements Repealed
102AAn entity shall apply paragraphs 102D–102N and 108G to all hedging relationships directly affected by interest rate benchmark reform. These paragraphs apply only to such hedging relationships. A hedging relationship is directly affected by interest rate benchmark reform only if the reform gives rise to uncertainties about: Repealed
102BDivision 102B Repealed
102CDivision 102C Repealed
Highly probable requirement for cash flow hedges Repealed
102DDivision 102D Repealed
Reclassifying the cumulative gain or loss recognised in other comprehensive income Repealed
102EDivision 102E Repealed
Effectiveness assessment Repealed
102FDivision 102F Repealed
102GDivision 102G Repealed
Designating financial items as hedged items Repealed
102HDivision 102H Repealed
102IDivision 102I Repealed
End of application Repealed
102JAn entity shall prospectively cease applying paragraph 102D to a hedged item at the earlier of: Repealed
102KAn entity shall prospectively cease applying paragraph 102E at the earlier of: Repealed
102LAn entity shall prospectively cease applying paragraph 102F: Repealed
102MAn entity shall prospectively cease applying paragraph 102G to a hedging relationship at the earlier of: Repealed
102NDivision 102N Repealed
EFFECTIVE DATE AND TRANSITION Repealed
108GDivision 108G Repealed
Amendments to IFRS 7 Financial Instruments: Disclosures Repealed
HEDGE ACCOUNTING Repealed
Uncertainty arising from interest rate benchmark reform Repealed
24HFor hedging relationships to which an entity applies the exceptions set out in paragraphs 6.8.4–6.8.12 of IFRS 9 or paragraphs 102D–102N of IAS 39, an entity shall disclose: Repealed
EFFECTIVE DATE AND TRANSITION Repealed
44DEDivision 44DE Repealed
44DFDivision 44DF Repealed

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Signature

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Amendments to IFRS 9 Financial InstrumentsF1

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Chapter 6 Hedge accountingF1

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Chapter 7 Effective date and transitionF1

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Amendments to IAS 39 Financial Instruments: Recognition and MeasurementF1

Paragraphs 102A–102N and 108G are added. A new heading is added before paragraph 102A. New subheadings are added before paragraphs 102D, 102E, 102F, 102H and 102J.