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GASB issues guidance on investment pools

  • GASB document Image

Dec 28, 2015

The GASB has issued Statement No. 79, “Certain External Investment Pools and Pool Participants,” that permits certain external investment pools to use amortized cost to measure pool investments. The guidance in State­ment 79 is in response to changes in SEC's Rule 2(a)-7 of the Investment Company Act of 1940, which become effective in April 2016.

State­ment 79 is effective for reporting periods beginning after June 15, 2015, except for certain provisions on portfolio quality, custodial credit risk, and shadow pricing. Those provisions are effective for reporting periods beginning after December 15, 2015. Early application is encouraged.            .

For more in­for­ma­tion, see the press release and Statement 79 on the GASB’s Web site.

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