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The IASB published its ED/2017/3 Prepayment Features with Negative Compensation (Proposed Amendments to IFRS 9) (‘the ED’) on 21 April 2017. This feedback statement summarises the main comments received by EFRAG on its draft comment letter and explains how those comments were considered by EFRAG during its technical discussions leading to the publication of EFRAG’s final comment letter.
EFRAG issued its final comment letter on 31 May 2017.
EFRAG’s positions in the final comment letter are the same as the draft version. One change compared to the draft comment letter is that the reasons for proposing an effective date at 1 January 2019 is explained in more detail. The added text explains how a later tentative date, with early application permitted, may assist European entities that are US SEC Registrants and are required to file financial statements in accordance with IFRS as published by the IASB for US purposes.