FRED 72 Draft amendments to FRS 102 – Interest rate benchmark reform
26 September 2019
The FRC issued FRED 72 Draft amendments to FRS 102 – Interest rate benchmark reform
, to respond to a current financial reporting issue. FRED 72 proposes amendments to specific hedge accounting requirements of FRS 102 to provide relief that will avoid unnecessary discontinuation of hedge accounting as interest rate benchmarks are being reformed. FRED 72 is based on similar proposals issued by the IASB, and has a proposed effective date of 1 January 2020, with early application permitted. Comments should be provided by 20 September 2019.