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Financial Services Industry Spotlight — Special Edition — Fed Funds as a Benchmark Interest Rate

Issue 2, July 2013


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This Financial Services Industry Spotlight discusses FASB Accounting Standard Update (ASU) No. 2013-10, Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes, and its related hedge accounting challenges as well as the operational complexities entities may face as a result of the effects of the overnight index swap rate on derivative valuation.

To read the Spotlight, click the Download button above. For past issues, visit the Industry Spotlight Archive.

The Industry Spotlight series and other information on accounting and financial disclosure also can be found in the Technical Library: The Deloitte Accounting Research Tool. Technical Library, a subscription-based research tool, includes material from the Financial Accounting Standards Board (FASB), Emerging Issues Task Force (EITF), American Institute of Certified Public Accountants (AICPA), Securities and Exchange Commission (SEC) and International Accounting Standards Board (IASB), in addition to our own accounting manual and interpretive accounting guidance. Updated every business day, the Technical Library has an intuitive design and navigation system. Powerful search features enable users to locate information quickly, at any time and from any computer.

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