11.10 Reclassification of financial assets

Financial assets are reclassified only in the event of a change in the business model relating to the asset or a group of assets resulting from the commencement or discontinuation of a significant part of the entity’s operations. Such changes are very infrequent. Reclassification is presented prospectively, i.e. without changing the effects of fair value measurement in earlier periods write-downs or accrued interest that have been recognized to date.

The following are not treated as changes in the business model:

• changes in the intentions regarding specific financial assets (even in the event of significant changes in market conditions);
• temporary discontinuation of a specific market for financial assets;
• a transfer of financial assets between business areas that apply different business models.

No financial liabilities are reclassified.