
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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Article 1 
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Article 2 
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Article 3 
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ANNEX
Interest Rate Benchmark ReformAmendments to IFRS 9, IAS 39 and IFRS 7 
Amendments to IFRS 9 Financial Instruments 

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 Chapter 6 Hedge accounting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 Chapter 7 Effective date and transition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Amendments to IAS 39 Financial Instruments: Recognition and Measurement 

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.
HEDGING 

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Temporary exceptions from applying specific hedge accounting requirements 
 102A An 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: 

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 102B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 102C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Highly probable requirement for cash flow hedges 
 102D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Reclassifying the cumulative gain or loss recognised in other comprehensive income 
 102E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Effectiveness assessment 
 102F . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 102G . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Designating financial items as hedged items 
 102H . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 102I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
End of application 
 102J An entity shall prospectively cease applying paragraph 102D to a hedged item at the earlier of: 

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 102K An entity shall prospectively cease applying paragraph 102E at the earlier of: 

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 102L An entity shall prospectively cease applying paragraph 102F: 

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 102M An entity shall prospectively cease applying paragraph 102G to a hedging relationship at the earlier of: 

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 102N . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
EFFECTIVE DATE AND TRANSITION 

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 108G . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Amendments to IFRS 7 Financial Instruments: Disclosures 

Paragraphs 24H and 44DE–44DF are added and a subheading is added before paragraph 24H.
HEDGE ACCOUNTING 

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Uncertainty arising from interest rate benchmark reform 
 24H For 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: 

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EFFECTIVE DATE AND TRANSITION 

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 44DE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 44DF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
