Not So Fast, FAS 133

FASB has delayed a new project that would deal with the creditworthiness of derivatives issuers, but it issued another new standard that essentially adopts a position of the International Accounting Standards Board.

For the moment, revisions to Financial Accounting Standard 133 — Accounting for Derivative Instruments and Hedging Activities — are on hold. Last Wednesday, the Financial Accounting Standards Board delayed ruling on the need for a new project that would deal with the creditworthiness of derivatives issuers.

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