摘要：Romanian banks use derivatives to hedge against or speculate on the movement ofeconomic variables such as foreign exchange rate or interest rate. To report these contracts, they apply theIFRS in both consolidated accounts (from 2007 onwards) and individual accounts (starting with 2012). Thispaper analyzes disclosures on derivatives for a 6-year period (2007- the year of the EU adhesion -2012)based on 132 financial statements available. The findings show that more than 72% of Romanian banks usederivatives, mostly for economic hedges and without much application of hedge accounting. Swaps are themost important contracts and foreign exchange risks the most protected against. On average, disclosures onderivatives follow the IFRS rules but provide little additional information beyond the minimum requirementswhich enables ambiguities and misinterpretations from users of the financial statements
