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IAS 39: Financial Instruments: Recognition and MeasurementFinancial Instruments: Recognition and Measurement (para. 1)Scope (paras. 2-7)Definitions (paras. 8-70)Hedging (paras. 71-102Z3)Effective date and transition (paras. 103-108K)Withdrawal of other pronouncements (paras. 109-110)Appendix A Application guidanceAppendix B Amendments to other pronouncementsApproval by the Board of Fair Value Hedge Accounting for a Portfolio Hedge of Interest Rate Risk (Amendments to IAS 39) issued in March 2004Approval by the Board of Transition and Initial Recognition of Financial Assets and Financial Liabilities (Amendments to IAS 39) issued in December 2004Approval by the Board of Cash Flow Hedge Accounting of Forecast Intragroup Transactions (Amendments to IAS 39) issued in April 2005Approval by the Board of Financial Guarantee Contracts (Amendments to IAS 39 and IFRS 4) issued in August 2005Approval by the Board of Eligible Hedged Items (Amendment to IAS 39) issued in July 2008Approval by the Board of Embedded Derivatives (Amendments to IFRIC 9 and IAS 39) issued in March 2009Approval by the Board of Novation of Derivatives and Continuation of Hedge Accounting (Amendments to IAS 39) issued in June 2013Approval by the Board of IFRS 9 Financial Instruments (Hedge Accounting and amendments to IFRS 9, IFRS 7 and IAS 39) issued in November 2013IAS 39: Basis for ConclusionsIntroduction (paras. BC1-BC130)Hedging (paras. BC131-BC371)BC131Consideration of the shortcut method in SFAS 133 (paras. BC132-BC135)Hedges of portions of financial assets and financial liabilities (paragraphs 81, 81A, AG99A and AG99B) (para. BC135A)Expected effectiveness (paragraphs AG105–AG113) (paras. BC136-BC136B)Hedges of portions of non‑financial assets and non‑financial liabilities for risk other than foreign currency risk (paragraph 82) (paras. BC137-BC139)Loan servicing rights (paras. BC140-BC143)Whether to permit hedge accounting using cash instruments (paras. BC144-BC145)Whether to treat hedges of forecast transactions as fair value hedges (paras. BC146-BC148)Hedges of firm commitments (paragraphs 93 and 94) (paras. BC149-BC154)Basis adjustments (paragraphs 97–99) (paras. BC155-BC164)Hedging using internal contracts (paras. BC165-BC172A)Eligible hedged items in particular situations (paragraphs AG99BA, AG99E, AG99F, AG110A and AG110B) (paras. BC172B-BC172J)Fair value hedge accounting for a portfolio hedge of interest rate risk (paras. BC173-BC220)Novation of derivatives and continuation of hedge accounting (paras. BC220A-BC222)Amendments for Interest Rate Benchmark Reform (September 2019) (paras. BC223-BC288)Amendments for Interest Rate Benchmark Reform-Phase 2 (August 2020) (paras. BC289-BC371)Dissenting opinions (paras. DO1-DO2)IAS 39: Illustrative ExampleIAS 39: Implementation Guidance
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Version date: 26 February 2020 - onwards

Hedges of portions of financial assets and financial liabilities (paragraphs 81, 81A, AG99A and AG99B) (para. BC135A)

IAS 39: Financial Instruments: Recognition and Measurement (version for insurers utilising the exemption effected by Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts (Amendments to IFRS 4))

BC135A IAS 39 permits a hedged item to be designated as a portion of the cash flows or fair value of a financial asset or financial liability. In finalising the Exposure Draft Fair Value Hedge Accounting for a Portfolio Hedge of Interest Rate Risk, the Board received comments that demonstrated that the meaning of a 'portion' was unclear in this context. Accordingly, the Board decided to amend IAS 39 to provide further guidance on what may be designated as a hedged portion, including confirmation that it is not possible to designate a portion that is greater than the total cash flows of the asset or liability.

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