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FASB issues guidance related to consolidated collateralized financing entities

  • FASB (US Financial Accounting Standards Board) Image

Aug 06, 2014

Yesterday, the FASB issued Accounting Standards Update (ASU) No. 2014-13, “Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity,” in response to the EITF’s consensus on Issue 12-G.

The ASU gives entities that consolidate a CFE an optional practicability exception from applying the fair value measurement guidance in ASC 820 when all of the financial assets and financial liabilities of the consolidated CFE are measured at fair value through net income under other U.S. GAAP (e.g., when the entity had elected the fair value option for all of the CFE’s financial assets and financial liabilities).

For more information, see the ASU on the FASB’s Web site.

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