GASB: Boost Derivatives Disclosure

Hume, Lynn
April 2003
Bond Buyer;4/4/2003, Vol. 344 Issue 31608, p1
Trade Publication
Amid growing calls for more derivatives disclosure, the U.S. Governmental Accounting Standards Board (GASB) has proposed that states and localities disclose in the notes of their annual financial statements detailed information about the terms and risks of derivatives contracts such as swaps and swaptions. The GASB released the proposed guidance asking for public comments on it and setting a May 16, 2003 deadline for receiving those comments. The board hopes to be able to issue final guidance in June that would take effect for governments' fiscal years ending after June 15, 2003, said Randal J. Finden, GASB project manager.


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