Summary 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 an Accounting Standards Update.

January 4, 2011 FASB Board Meeting

Deferral of the effective date of disclosures about troubled debt restructurings in Update No. 2010-20. The Board affirmed its previous decision to temporarily defer the effective date for troubled debt restructuring disclosures in Accounting Standards Update No. 2010-20, Receivables (Topic 310): Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses, to be concurrent with the effective date for proposed Accounting Standards Update, Receivables (Topic 310): Clarifications to Accounting for Troubled Debt Restructuring by Creditors.

Disclosures in Update 2010-20 were initially effective for periods ending on or after December 15, 2010, for public entities, and for annual periods ending on or after December 15, 2011, for nonpublic entities. The Board added the project to clarify accounting for troubled debt restructurings after Update2010-20 became effective for public companies, which created a need to align the effective dates of the disclosures and the clarifications. The effective date of the clarifications project is expected to be for periods ending on or after June 15, 2011. For nonpublic entities, the Board decided to retain the existing effective date for required disclosures about troubled debt restructurings in Update 2010-20, because the clarifications project is scheduled to be completed before Update 2010-20 becomes effective.

The Board directed the staff to begin drafting a final Accounting Standards Update to change the effective date of the troubled debt restructuring disclosures for public entities for vote by written ballot.