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.

October 19, 2012 FASB Board Meeting

1. Derivative instruments that are in the scope of Topic 815, Derivatives and Hedging
    
2. Regular-way security trades
    
3. Transactions accounted as normal purchases and normal sales
    
4. Certain contracts that are not traded on an exchange
    
5. Instruments that are impediment to sale accounting
    
6. Certain contracts involving an entity´s own equity
    
7. Leases
    
8. Residual value guarantees
    
9. Registration payment arrangements
    
10. A loan commitment and a financial standby letter of credit held by a potential borrower
     
11. All financial guarantee contracts
     
12. All financial instruments within the scope of Topic 944; except for the following that would be included in the scope of the tentative model:
    
    
    1. Mortgage loans that are subject to Subtopic 944-310, Financial Services—Insurance—Receivables (presentation guidance in Section 944-310-45 would also be retained)
        
    2. All financial instruments that are subject to Subtopic 944-320, Financial Services—Insurance—Investments—Debt and Equity Securities
        
    3. All financial instruments that are subject to Subtopic 944-325, Financial Services—Insurance—Investments—Other (presentation guidance in Section 944-325-45 would also be retained)
        
    4. All financial instruments that are subject to Subtopic 944-470, Financial Services—Insurance—Debt.
        
13. A holder´s investment in a life insurance contract included in the scope of Subtopic 325-30, Investments—Other—Investments in Insurance Contracts
     
14. All pledges receivable and payable resulting from voluntary nonreciprocal transfers of not-for-profit entities
     
15. All financial instruments included in the scope of the following Topics:
    
    
    1. Topic 710, Compensation—General
        
    2. Topic 712, Compensation—Nonretirement Postemployment Benefits
        
    3. Topic 715, Compensation—Retirement Benefits
        
    4. Topic 718, Compensation—Stock Compensation
        
    5. Topic 960, Plan Accounting—Defined Benefit Pension Plans
        
    6. Topic 962, Plan Accounting—Defined Contribution Pension Plans
        
    7. Topic 965, Plan Accounting—Health and Welfare Benefit Plans.
        
16. Financial instruments included in the scope of Topic 810, Consolidation, including:
    
    
    1. An equity investment in a consolidated subsidiary
        
    2. A noncontrolling interest in a consolidated entity´s financial statements
        
    3. Interest in a variable interest entity that the entity is required to consolidate.
        
17. All financial instruments included in the scope of Topic 323, Investments—Equity Method and Joint Ventures. (However, Topic 323 would be amended to require that an equity method investment that is held-for-sale at initial recognition would be measured at fair value, with changes in fair value recognized in net income.)
     
18. Acquisition-related contracts and contingent consideration arrangements included in the scope of Topic 805, Business Combinations.

1. All interest-only strips and principal-only strips
    
2. Certain contracts to purchase securities that are physically settled and are currently included in the scope of Topic 320, Investments—Debt and Equity Securities
    
3. Forward contracts and purchased options to purchase or sell equity securities that are currently excluded from the scope of Topic 320 and Topic 815. The practicability exception for the measurement of nonmarketable equity securities under the tentative model would be extended for these securities.
    
4. Structured notes in the scope of Subtopic 320-10
    
5. Financial instruments included in the scope of Subtopic 340-30, Other Assets and Deferred Costs—Insurance Contracts that Do Not Transfer Insurance Risk.

1. Greater than remote—the issuer would measure the loan commitment consistent with the measurement of the underlying loan under the tentative model.
   
   
   1. If the underlying loan is measured at fair value, the loan commitment would be measured at fair value.
       
   2. If the underlying loan is measured at amortized cost, any commitment fees received would be deferred and recognized over the life of the funded loan as an adjustment of yield in accordance with existing guidance in Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs.
       
2. Remote—the issuer would recognize any commitment fees received as fee income over the commitment period in accordance with existing guidance in Subtopic 310-20.