Financial Services Industry Spotlight — Special Edition — Fed Funds as a Benchmark Interest Rate
Issue 2, July 2013
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.
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