FASB Discusses Leases and Fair Value Hedging
November 11, 2021
At its November 10, 2021, meeting, the FASB discussed the following topics:
- Implementation of the leasing standard — The Board tentatively decided not to defer the effective date of ASC 842, Leases, for certain entities.
- Fair value hedging — portfolio layer method — The Board made tentative decisions related to scope, attributes of assets in the closed portfolio, fair value hedge basis adjustments, breaches, disclosures, transition and effective date, and cost-benefit analysis. In addition, the Board directed the staff to draft an Accounting Standards Update for a vote by written ballot.