Banks set for last ditch talks with IASB

Link: IASB and banks clash over derivatives

Companies such as HSBC, Barclays and Commerzbank will meet with the IASB privately in order to discuss issues surrounding how derivatives will be dealt with in the new standard. The banks believe that it will compromise the widely used risk management strategy of macro hedging.

Sir David Tweedie has said he is prepared to look for compromises but would not tolerate answers that would weaken the principles already set out, such as measuring derivatives at fair value.

Related reading