Own credit risk provisions – Early adoption

As noted above, AASB 9 introduces requirements for the presentation of fair value gains or losses through OCI where such gain or loss results from changes in the measurement of ‘own credit risk’ on ‘financial liabilities designated as at fair value through profit or loss’. An entity is permitted to elect to apply the ‘own credit risk’ provisions without applying the other requirements in AASB 9. If an entity does so, it is required to disclose that fact and provide the disclosures in AASB 7 ‘Financial Instruments: Disclosures’ concerning financial liabilities designated at fair value.\n