At its March 8, 2017, meeting, the FASB continued its redeliberations on its 2016 proposed Accounting Standards Update (ASU), Targeted Improvements to Accounting for Hedging Activities, and made tentative decisions about whether (1) the “market yield” test should be retained in the proposed ASU and (2) the “last-of-layer” approach should be incorporated into the targeted improvements for fair value hedges of interest rate risk of prepayable instruments.
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