In September 2016, the FASB issued a proposed Accounting Standards Update (ASU)1 that would make narrow-scope improvements to accounting for premium amortization associated with purchased callable debt securities. At its February 1, 2017, meeting, the FASB redeliberated the project and (1) discussed the summary of the comments received on the proposed ASU, (2) reached tentative decisions on four key issues raised in the comment letters it received, and (3) directed its staff to draft a final ASU.
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