TITLE

FASB 140 Proposal Prompts Concerns

AUTHOR(S)
Walker, Susanne
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/17/2003, Vol. 344 Issue 31658, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
A proposed amendment to the U.S. Financial Accounting Standards Board's (FASB) statement No. 140 is giving rise to concerns in the industry because it could require many tender-option bond programs to become on-balance-sheet transactions if certain requirements are not met. The new proposals to FASB 140 suggest that in order to meet the standards of a qualifying special-purpose entity, a sponsor of a tender-option bond program, usually an investment or a commercial bank, could not provide liquidity to any tender-option bond trust, nor could it be the remarketing agent.
ACCESSION #
10112202

 

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