兴柜与非上柜股票之公允价值衡量续同一企业.ppt

The standard provides specific guidance for circumstances in which an entity prioritises payments to holders of multiple contractually linked instruments that create concentrations of credit risk, i.e. tranches. The right to payments on more junior tranches (i.e. exposed to more credit risk) depends on the issuer’s generation of sufficient cash flows to pay more senior tranches. A look-through approach is required to determine whether the SPPI criterion is met. [IFRS 9.B4.1.20-26] A tranche can meet the SPPI criterion only if all the following conditions are met: the contractual terms of the tranche itself (without looking through to the underlying pool of financial instruments) give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding; the pool that generates cash flows does and may in the future contain only financial instruments that themselves meet the SPPI criterion or a combination of such financial instruments and other financial instruments that together give rise to cash flows that meet the SPPI criterion or instruments that align the cash flows of the pool with those of the tranches the exposure to credit risk inherent in the tranche is equal to or less than the exposure to credit risk of the underlying pool of financial instruments. [IFRS 9.B4.1.21, 23-25] ? 2011 KPMG IFRG Limited, a UK registered company limited by guarantee. All rights reserved. Internal use only. * Please see above. Alternative - Collateralised Loan Obligations (CLOs): Similarly, the pool might include a debt security that meets the SPPI criterion but which is restructured if the obligor of the debt security encounters financial difficulties. In this case, the issuer of the tranche might receive new equity or other instruments of the obligor that do not meet the SPPI criterion as a result of a debt-for-equity swap agreed to by a majority of security holders. ? 2011 KPMG IFRG Limited, a UK registered company limited by guarant