FASB Holds October 21 Meeting

At its October 21, 2026, meeting, the FASB discussed comments received on its June 2026 proposed Accounting Standards Update (ASU) on targeted improvements to the accounting for interest rate risk hedging and net investment hedging. The Board made tentative decisions related to (1) hedging interest rate risks for held-to-maturity debt securities, (2) removing the “OIS” (i.e., overnight index swap) parameter from the secured overnight financing rate benchmark rate, (3) permitting float-to-float cross-currency swaps with different reset dates to be hedging instruments in net investment hedges, (4) transition provisions and disclosures, and (5) effective date and early adoption. The Board has directed its staff to draft a final ASU for a vote by written ballot.

In addition, the Board addressed several topics related to crypto assets on which it had received feedback as part of its 2025 agenda consultation. However, the Board decided not to add any of the topics discussed to its agenda at this time.

For more information, see the tentative Board decisions and Board meeting handout on the FASB’s Web site.