Which of the following statements about IFRS 7 Financial Instruments: Disclosures is true?

A is false: IFRS 7 applies to all entities that have financial instruments, not just regulated financial institutions.

B is true: IFRS 7 explicitly requires disclosures by class of financial instrument, so users can understand the nature and risks of different categories.

C is false: IFRS 7 requires both qualitative and quantitative disclosures, including carrying amounts, risk exposures, and sensitivity analyses.

D is false: sensitivity analysis is required for market risks (interest rate, currency, other price), not specifically credit risk.

So the correct statement is B.