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Journal entry — FASB makes tentative decisions about the amortization period of purchased callable debt securities

Published on: Sep 17, 2015

At its meeting yesterday, the FASB continued deliberating disclosures about interest income on purchased debt securities and loans. The Board expanded the scope of the project and tentatively decided that for purchased callable debt securities, (1) premiums would be amortized to the first call date and (2) discounts would be amortized to the maturity date. The Board directed the staff to research (1) current disclosure requirements for callable debt securities and loans and (2) whether the scope of the financial instruments included in the project should be amended. At a future meeting, the staff will provide the Board with its research and proposed disclosure requirements related to interest income for purchased debt securities and loans.

FASB makes tentative decisions about the amortization period of purchased callable debt securities Image

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