FASB Finalizes New Emphases on OTTI, Fair Value; Opts for Prospective Application, Limiting Relief
April 3, 2009
The Financial Accounting Standards Board, continuing to feel the heat generated by a Congressional grilling last month and more than 600 public comment letters, rushed ahead this week with a final version of its updated guidance on fair value accounting and “other-than-temporary” impairment. The changes will allow institutions to value certain assets at what they would be...