Send your Comments on Mark-to-Market Proposals by April 1
Comments Needed on Mark-to-Market ProposalsBoth CBAI and ICBA urge community bankers to submit comments on two FASB proposals by the April 1 deadline. Proposed changes to FASB Statement No. 157 provide further guidance on determining whether or not a market for a financial asset is active and a transaction is distressed for fair value measurements. Proposed revisions to FASB Statement No.115 and EITF Issue No. 99-20 change the determination of other-than-temporary-impairment (OTTI) and the total amount recognized in earnings when there are credit losses on debt securities. A suggested letter to FASB and a Fact Sheet are attached.