The European Association of Co-operative Banks (EACB) appreciates the International
Accounting Standards Board (IASB) initiative to discuss an alternative approach to
macro-hedge accounting, as presented in its Discussion Paper (DP) “Accounting for
Dynamic Risk Management: a Portfolio Revaluation Approach to Macro Hedging”. We
indeed believe that a hedge accounting model for open portfolios should be developed.
The approach proposed reflects a good understanding of issues at stake and represents a
good start for developing a macro hedging model.
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