Publication: Reclassification of Financial Assets under IAS 39: Impact on European Banks' Financial Statements
Reclassification of Financial Assets under IAS 39: Impact on European Banks' Financial Statements
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Fiechter, P. (2011). Reclassification of Financial Assets under IAS 39: Impact on European Banks’ Financial Statements. Accounting in Europe, 8(1), 49–67. https://doi.org/10.1080/17449480.2011.574409
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In response to the financial crisis, the IASB issued on 13 October 2008 an amendment to IAS 39 which enables entities to reclassify non-derivative financial assets held for trading and financial assets available-for-sale. This paper examines the influence of this controversial amendment on the 2008 financial statements of 219 European banks which apply IFRS. I find that approximately one-third of the sample banks have taken extensive advantage of these reclassification opportunities. The mean reclassification amount is 3.9% of total a
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- Fiechter, Peter
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Fiechter, P. (2011). Reclassification of Financial Assets under IAS 39: Impact on European Banks’ Financial Statements. Accounting in Europe, 8(1), 49–67. https://doi.org/10.1080/17449480.2011.574409