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[Revised to incorporate information on the approach for the transition of SIBOR loans and updates on accounting considerations on the transition of SIBOR loans]
FRB 9 (Revised June 2024), issued on 27 June 2024, share accounting considerations to assist entities in their understanding of the accounting for financial instruments and hedge accounting which are affected by the replacement of interest rate benchmarks within these contracts.
FRB 9 (Revised June 2024) has been updated from FRB 9 (issued on 16 January 2023) for the following:
- Additional background information on the approach for the transition of SIBOR loans; and
- Updates on accounting considerations on the transition of SIBOR loans.
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