{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/848/30/","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","number":"848-30","topic":"848","title":"Hedging—General","area":"Broad Transactions","paragraphs":20,"summary":"ASC 848-30 was the placeholder subtopic for general hedging guidance under the reference rate reform relief in Topic 848, but every paragraph in it has been superseded — the Section 05, 15, and 25 paragraphs by ASU 2020-04, and paragraphs 848-30-25-7A, 25-11A, 25-11B, and 25-11C by ASU 2021-01. As a result, the subtopic currently contains no operative recognition, scope, or overview guidance. Practitioners seeking the optional expedients and exceptions for hedge accounting relationships affected by the discontinuation of LIBOR and other reference rates must look to the other subtopics of Topic 848, principally 848-40 and 848-50.","concepts":["reference rate reform","superseded guidance","hedge accounting relief","optional expedients","libor transition","discontinued reference rate","codification maintenance"],"categories":["Derivatives and hedging","Transition and effective dates","Financial instruments"],"level":"advanced","topic_title":"Reference Rate Reform","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"848-30-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div><div class=\"norm-text\"><table class=\"asc-table\" id=\"SL122633447-237853\"><tr><td class=\"entry\"><strong class=\"ph b\">Paragraph</strong></td><td class=\"entry\"><strong class=\"ph b\">Action</strong></td><td class=\"entry\"><strong class=\"ph b\">Accounting Standards Update</strong></td><td class=\"entry\"><strong class=\"ph b\">Date</strong></td></tr><tr><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td><td class=\"entry\"></td></tr><tr><td class=\"entry\"><a href=\"/asc/848/30/#848-30-05-1\" class=\"xref\">848-30-05-1</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2020-04/\" class=\"xref\">Accounting Standards Update No. 2020-04</a></td><td class=\"entry\">03/12/2020</td></tr><tr><td class=\"entry\"><a href=\"/asc/848/30/#848-30-05-1\" class=\"xref\">848-30-05-1</a></td><td class=\"entry\">Added</td><td class=\"entry\"><a href=\"/updates/asu-2020-04/\" class=\"xref\">Accounting Standards Update No. 2020-04</a></td><td class=\"entry\">03/12/2020</td></tr><tr><td class=\"entry\"><a href=\"/asc/848/30/#848-30-15-1\" class=\"xref\">848-30-15-1</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2021-01/\" class=\"xref\">Accounting Standards Update No. 2021-01</a></td><td class=\"entry\">01/07/2021</td></tr><tr><td class=\"entry\"><a href=\"/asc/848/30/#848-30-15-1\" class=\"xref\">848-30-15-1</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2020-04/\" class=\"xref\">Accounting Standards Update No. 2020-04</a></td><td class=\"entry\">03/12/2020</td></tr><tr><td class=\"entry\"><a href=\"/asc/848/30/#848-30-15-1\" class=\"xref\">848-30-15-1</a></td><td class=\"entry\">Added</td><td class=\"entry\"><a href=\"/updates/asu-2020-04/\" class=\"xref\">Accounting Standards Update No. 2020-04</a></td><td class=\"entry\">03/12/2020</td></tr><tr><td class=\"entry\"><div class=\"xref-range displayInline\"><a href=\"/asc/848/30/#848-30-25-1\" class=\"xref\">848-30-25-1 through 25-13</a></div></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2020-04/\" class=\"xref\">Accounting Standards Update No. 2020-04</a></td><td class=\"entry\">03/12/2020</td></tr><tr><td class=\"entry\"><div class=\"xref-range displayInline\"><a href=\"/asc/848/30/#848-30-25-1\" class=\"xref\">848-30-25-1 through 25-13</a></div></td><td class=\"entry\">Added</td><td class=\"entry\"><a href=\"/updates/asu-2020-04/\" class=\"xref\">Accounting Standards Update No. 2020-04</a></td><td class=\"entry\">03/12/2020</td></tr><tr><td class=\"entry\"><a href=\"/asc/848/30/#848-30-25-7A\" class=\"xref\">848-30-25-7A</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2021-01/\" class=\"xref\">Accounting Standards Update No. 2021-01</a></td><td class=\"entry\">01/07/2021</td></tr><tr><td class=\"entry\"><a href=\"/asc/848/30/#848-30-25-7A\" class=\"xref\">848-30-25-7A</a></td><td class=\"entry\">Added</td><td class=\"entry\"><a href=\"/updates/asu-2021-01/\" class=\"xref\">Accounting Standards Update No. 2021-01</a></td><td class=\"entry\">01/07/2021</td></tr><tr><td class=\"entry\"><div class=\"xref-range displayInline\"><a href=\"/asc/848/30/#848-30-25-9\" class=\"xref\">848-30-25-9 through 25-11</a></div></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2021-01/\" class=\"xref\">Accounting Standards Update No. 2021-01</a></td><td class=\"entry\">01/07/2021</td></tr><tr><td class=\"entry\"><div class=\"xref-range displayInline\"><a href=\"/asc/848/30/#848-30-25-11A\" class=\"xref\">848-30-25-11A through 25-11C</a></div></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2021-01/\" class=\"xref\">Accounting Standards Update No. 2021-01</a></td><td class=\"entry\">01/07/2021</td></tr><tr><td class=\"entry\"><div class=\"xref-range displayInline\"><a href=\"/asc/848/30/#848-30-25-11A\" class=\"xref\">848-30-25-11A through 25-11C</a></div></td><td class=\"entry\">Added</td><td class=\"entry\"><a href=\"/updates/asu-2021-01/\" class=\"xref\">Accounting Standards Update No. 2021-01</a></td><td class=\"entry\">01/07/2021</td></tr></table></div></div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\n848-30-05-1 | Superseded | Accounting Standards Update No. 2020-04 | 03/12/2020 |\n848-30…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:486d8ccb24734a6d5122afd8006012ad62509a4eedfb846877e59c28f51b32cb","downloaded_from":"2026-09-10T02:01:38.800Z","last_downloaded_at":"2026-09-10T02:01:38.800Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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25-11A, 25-11B, and 25-11C by ASU 2021-01. As a result, the subtopic currently contains no operative recognition, scope, or overview guidance. Practitioners seeking the optional expedients and exceptions for hedge accounting relationships affected by the discontinuation of LIBOR and other reference rates must look to the other subtopics of Topic 848, principally 848-40 and 848-50.","key_points":["All of the overview (Section 05), scope (Section 15), and recognition (Section 25) paragraphs of 848-30 have been superseded and carry no current authoritative effect.","Paragraphs 848-30-05-1, 848-30-15-1, and 848-30-25-1 through 25-13 were superseded by Accounting Standards Update No. 2020-04.","Paragraphs 848-30-25-7A, 848-30-25-11A, 848-30-25-11B, and 848-30-25-11C were superseded by Accounting Standards Update No. 2021-01.","Because the subtopic is entirely superseded, no recognition or measurement conclusion may be supported by citing 848-30.","Reference rate reform hedging relief now resides in the remaining subtopics of Topic 848 (for example, 848-40 on fair value hedges and 848-50 on cash flow hedges), which should be consulted instead."],"categories":["Derivatives and hedging","Transition and effective dates","Financial instruments"],"audience_level":"advanced","student_note":"This subtopic is a shell: knowing that 848-30 is fully superseded prevents the common error of citing withdrawn paragraphs for reference rate reform hedging relief, which actually lives in the other Topic 848 subtopics. Also note that Topic 848's relief is optional and time-limited, so the sunset date matters more than the empty 848-30 heading.","related_topics":["848","848-10","848-40","848-50","815","815-20"],"key_concepts":["reference rate reform","superseded guidance","hedge accounting relief","optional expedients","libor transition","discontinued reference rate","codification maintenance"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7efe32058c7efa41f6e45f5f5bcbb44acfc898492e5a9e1d4eb3ea5d870415bb","downloaded_from":"2026-09-10T02:01:38.800Z","last_downloaded_at":"2026-09-10T02:01:50.444Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"848-50","title":"Cash Flow Hedges","topic_title":"Reference Rate 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established by retrieval timestamps"}},{"number":"848-20","title":"Contract Modifications","topic_title":"Reference Rate Reform","score":0.8677,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:31a894be1588ca092f2687e6e70f3e87e4826ae5cf026dd4f212428f4ad9be97","downloaded_from":"2026-09-10T02:01:25.341Z","last_downloaded_at":"2026-09-10T02:01:35.010Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"848-10","title":"Overall","topic_title":"Reference Rate Reform","score":0.8644,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7a6b5383c521013a7487fc8909150da4258f3306a488e5e510906e5a36d9fb8b","downloaded_from":"2026-09-10T02:01:01.971Z","last_downloaded_at":"2026-09-10T02:01:22.011Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"840-30","title":"Capital Leases","topic_title":"Leases","score":0.7355,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eae37384ba122a54344d942842094d7113f1a47a2a2150dcc76c1e9abb38df97","downloaded_from":"2026-09-10T01:53:10.688Z","last_downloaded_at":"2026-09-10T01:53:53.488Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"840-980","title":"Regulated Operations","topic_title":"Leases","score":0.7278,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c892f4d07b306bfced03b43558ff7eeda5a7101cba189a5bae89a05b32f9d886","downloaded_from":"2026-09-10T01:55:18.640Z","last_downloaded_at":"2026-09-10T01:55:41.940Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"848-20","title":"Contract Modifications","topic_title":"Reference Rate 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