reclassification of Held-to-maturity, held-for-trading, and held-for-sale

[archived_user]

Can anyone help me with explaining the different treatment under IFRS(both current and IFRS 9) and GAAP for reclassification? i.e., reclassify held-to-maturity to held-for-trading and etc.? (under which standard is permitted)
Thank you in advance

 

[archived_user]

In short, IFRS prohibits reclassification into and out of designated at fair value and out of Held for Trading.
US GAAP is more flexible and allows for all reclassifications when justified.

 

[archived_user]

Agree with the above, just to add taht IFRS allows Debt investments to be subsequently measured at fair value through P&L if “business model test” AND “cashlow characteristic test” are not met, otherwise continue to be valued under amortised cost.