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Deloitte issues U.S. alert on accounting for eurozone sovereign debt holdings

  • Financial Reporting Alert Image

Jan 12, 2012

Deloitte has issued a "Financial Reporting Alert" on the impairment of Greek government bonds (GGBs) and debt issued by other eurozone states. The alert notes that under U.S. GAAP and IFRSs, GGBs and other loans that are issued by the Greek state are impaired (other-than-temporarily impaired in the case of GGBs) as of December 31, 2011. The alert provides guidance on the measurement of the impairment loss for the different types of investments.

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