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Interest rate benchmark reform: temporary hedge-accounting exceptions assume benchmarks unchanged to avoid premature discontinuation of hedges. The Exposure Draft proposes temporary, targeted exceptions to specified hedge accounting requirements in IFRS 9 and IAS 39 so that entities assess the highly probable test and prospective effectiveness/economic relationship requirements assuming the existing interest rate benchmark is not altered by interest rate benchmark reform; the exceptions apply only to hedging relationships affected by the reform, are mandatory, end prospectively when uncertainty about timing or amount is resolved or the hedge is discontinued, require specified IFRS 7 disclosures, and have an effective date for annual periods beginning on or after 1 January 2020 with retrospective application permitted.