Before revision:  The exposure value as outlined in the IFRS 9 exposure draft (ED 2009)  will be interpreted as an economically justified value under amortized cost accounting and provides the main methodological benchmark . Consequently, the ED 2009 can be used to quantify conservatism (ie  hidden reserves) in the actual implementation of the final standard and to separate operational side-effects caused by the local implementation from actual credit risk impacts.
After revision:  The exposure value iACV(c) (idealized Amortized Cost Value), as originally introduced in the Exposure Draft 2009 (ED 2009) will be interpreted as an economically justified value under amortized cost accounting and provides the main methodological benchmark . Consequently, the ED 2009 can be used to quantify conservatism (ie hidden reserves) in the actual implementation of the final standard and to separate operational side-effects caused by the local implementation from actual credit risk impacts.