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Financial Reporting for the Repo Transactions and the Impact of Proposed Amendments in IAS 39 and IFRS 7

Ýhsan Ugur Delikanli

Istanbul Stock Exchange Review, 2010, vol. 11, issue 44, 1-28

Abstract: Financial reporting of the repo and reverse repo transactions is assessed in this study taking into account international accounting and financial reporting standards. Firstly, the related principles envisaged in IAS 32, IAS 39 and IFRS 7 are considered and then the question of whether financial reporting practices of the banks and the intermediary institutions operating in Turkey are compliant with these principles or not is searched. Lastly, proposed amendments regarding the derecognition of the financial assets in IAS 39 and IFRS 7 by IASB are assessed in order to develop answers for the questions of what they will change the financial reporting of repo and reverse repo transactions how they will effect the accounting practices of the banks and intermediary institutions and repo and reverse repo market. It looks that some grey areas in the proposed amendments need the reassessment.

Keywords: Repurchase Agreement (Repo); Reverse Repo; IAS 39; IFRS 7. (search for similar items in EconPapers)
JEL-codes: M41 M48 G21 G24 (search for similar items in EconPapers)
Date: 2010
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