SUMMARY OF BOARD DECISIONS

Summary of Board decisions are provided for the information and convenience of constituents who want to follow the Board’s deliberations. All of the conclusions reported are tentative and may be changed at future Board meetings. Decisions are included in an Exposure Draft for formal comment only after a formal written ballot. Decisions in an Exposure Draft may be (and often are) changed in redeliberations based on information provided to the Board in comment letters, at public roundtable discussions, and through other communication channels. Decisions become final only after a formal written ballot to issue an Accounting Standards Update.

July 29, 2010 FASB Board Meeting

Reporting Participant Loans in Employee Benefit Plan Financial Statements (a proposed Consensus of the EITF). During the July 29, 2010 EITF meeting, the Board unanimously agreed to issue an Exposure Draft containing the following consensus of the EITF. The Exposure Draft will have a 20-day comment period.

Issue No. 10-C, “Reporting of Participant Loans in Employee Benefit Plan Financial Statements”

Participant loans would be classified as notes receivable in the financial statements of an employee benefit plan, measured at the outstanding principal amount plus accrued but unpaid interest.

The Exposure Draft proposes no change to existing disclosures about participant loans.

An employee benefit plan would apply the proposed classification guidance retrospectively to all prior periods presented. While the effective date of the proposed change has not yet been determined, the Exposure Draft proposes permitting early adoption.