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Heads Up: FASB Proposes Guidance on Other-Than-Temporary Impairments and Discusses Plans for Other Financial Instrument Projects

Volume 15, Issue 46


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The attached issue of Heads Up discusses the FASB meeting held last Monday to discuss a number of financial instrument topics. While other-than-temporary impairments (OTTI) took center stage, the FASB also discussed plans for a broader, longer-term project to address the complexity in reporting financial instruments and four shorter-term projects to address (1) revisions to the OTTI model for beneficial interests in securitizations, (2) disclosures of certain financial assets, (3) credit derivatives embedded in hybrid instruments, and (4) recoveries of OTTI.

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

Heads Up 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 the Financial Accounting Standards Board (FASB), Emerging Issues Task Force (EITF), AICPA, Securities and Exchange Commission (SEC) and International Accounting Standards Board (IASB), in addition to our own accounting manual and interpretative 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. Additionally, Technical Library subscribers receive periodic e-mails highlighting recent additions to the Technical Library. Read more about the Technical Library.

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