Implications of US Economic Stabilization Act

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15 Oct 2008

Deloitte & Touche LLP (United States) has published an edition of the Heads Up newsletter that summarises the key provisions of the US Emergency Economic Stabilization Act of 2008 and discusses the accounting, tax, and business issues raised by the Act that may require consideration in the upcoming weeks.

Click to Download this Issue of Heads Up (PDF 210k).

Among the accounting considerations discussed in the newsletter are:

  • Assessment of 'other-than-temporary impairment (OTTI)'
  • Classification of financial assets and liabilities as HTM or OTTI
  • Recognition of interest income and impairment of beneficial interests
  • Accounting by creditors for impairment of loans
  • Accounting by mortgage banking institutions
  • Measurement of fair value
  • Warrants and liability/equity classification
  • Guarantee accounting
  • Modifications of loans held in QSPEs
  • Compensation 'clawback' considerations
  • Income tax accounting
  • Disclosure adequacy


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