4.4.1 When, and only when, an entity changes its business model for managing financial assets it shall reclassify all affected financial assets in accordance with paragraphs 4.1.1-4.1.4. See paragraphs 5.6.1-5.6.7, B4.4.1-B4.4.3 and B5.6.1-B5.6.2 for additional guidance on reclassifying financial assets.
4.4.2 An entity shall not reclassify any financial liability.
4.4.3 The following changes in circumstances are not reclassifications for the purposes of paragraphs 4.4.1-4.4.2:
(a) an item that was previously a designated and effective hedging instrument in a cash flow hedge or net investment hedge no longer qualifies as such;
(b) an item becomes a designated and effective hedging instrument in a cash flow hedge or net investment hedge; and
(c) changes in measurement in accordance with Section 6.7.