Proposed Changes to Securitization Accounting
19 September 2008
Mayer Brown Article
19 September 2008 - The Financial Accounting Standards Board (FASB) has published exposure drafts of proposed amendments to FASB’s Statement 140 and Interpretation 46(R). The comment deadline for both exposure drafts is November 14, 2008. For calendar year reporting entities, the proposed amendments would take effect on January 1, 2010. FASB has also published an exposure draft of an FASB staff position (FSP) that would require additional disclosures relating to variable interest entities (a term that includes special purpose entities (SPEs) used in securitizations), pending effectiveness of the other amendments.