FASB to Seek Comment Soon on Exposure Drafts Removing QSPE Concept, Requiring Consolidation
September 12, 2008
The Financial Accounting Standards Board will soon issue for public comment related exposure drafts that would eliminate the concept of a “qualifying special purpose entity” and require lenders to place currently off-balance sheet securitized assets on the books. The board last week said it will issue the proposed rules “on or around Sept. 15” for...