TITLE

GASB Issues Derivatives Guidance

AUTHOR(S)
Hume, Lynn
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/26/2003, Vol. 344 Issue 31665, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The U.S. Governmental Accounting Standards Board (GASB) has issued final derivatives disclosure guidance with an immediate effective date, despite pleas by the Government Finance Officers Association that the effective date be delayed by more than a year. The guidance also should give more reliable estimates of the notional amounts of outstanding derivatives in this market, which currently range widely between $200 billion and $400 billion, GASB project manager Randal J. Finden said. The derivatives disclosure guidance takes effect for state and local governments' fiscal years ending after June 15, 2003 and does not differ substantially from the guidance the board first proposed in April, according to GASB officials.
ACCESSION #
10152863

 

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