Amendment to IFRS 13 Fair Value Measurement
Paragraph 52 is amended and paragraph C4 is added.
Application to financial assets and financial liabilities with offsetting positions in market risks or counterparty credit risk
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52The exception in paragraph 48 applies only to financial assets, financial liabilities and other contracts within the scope of IAS 39 Financial Instruments: Recognition and Measurement or IFRS 9 Financial Instruments. The references to financial assets and financial liabilities in paragraphs 48–51 and 53–56 should be read as applying to all contracts within the scope of, and accounted for in accordance with, IAS 39 or IFRS 9, regardless of whether they meet the definitions of financial assets or financial liabilities in IAS 32 Financial Instruments: Presentation.
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Appendix C Effective date and transition
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C4 Annual Improvements Cycle 2011–2013 issued in December 2013 amended paragraph 52. An entity shall apply that amendment for annual periods beginning on or after 1 July 2014. An entity shall apply that amendment prospectively from the beginning of the annual period in which IFRS 13 was initially applied. Earlier application is permitted. If an entity applies that amendment for an earlier period it shall disclose that fact.
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