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Heads Up: FASB Issues New Standard on Transfers of Financial Assets

Volume 16, Issue 22

This issue of Heads Up discusses the FASB’s recently issued Statement No. 166, Accounting for Transfers of Financial Assets. Statement 166 amends the derecognition guidance in Statement 140 and eliminates the exemption from consolidation for qualifying special-purpose entities (QSPEs). As a result, a transferor will need to evaluate all existing QSPEs to determine whether they must now be consolidated in accordance with Statement 167.

Read more in the file attached below or visit the Heads Up Archive for past issues.

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