SUMMARY OF BOARD DECISIONSSummary 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 a final standard. January 23, 2009 Board Meeting Financial instruments: disclosures about certain financial assets. The Board discussed the issues raised by respondents in comment letters received on proposed FSP FAS 107-a, Disclosures about Certain Financial Assets: An Amendment of FASB Statement No. 107, and decided not to finalize the proposed FSP. The Board decided to issue a new proposed FSP that would amend FASB Statement No. 107, Disclosures about Fair Value of Financial Instruments, to require interim and annual disclosures of fair value measurements for all financial instruments within the scope of that Statement. The Board also decided that the proposed FSP would reiterate qualitative disclosure requirements in Statement 107 and FASB Statement No. 157, Fair Value Measurements. The Board decided that entities should provide the disclosures in Statement 107 for interim and annual periods ending after March 15, 2009. The Board expects to issue a proposed FSP on or around January 30, 2009, with a 30-day comment period. The Board directed the staff to proceed to a draft of a proposed FSP for vote by written ballot. |