By Edith Orenstein, FEI Financial Reporting Blog - Late this afternoon (Oct. 3), FASB posted Proposed FSP FAS 157-d, Determining the Fair Value of a Financial Asset in a Market That Is Not Active. The comment deadline is October 9. As noted in FASB’s Action Alert, the board plans to hold a special meeting on October 10 to consider comments received and vote on issuing a final FSP.
Also today, Congress passed, and President Bush signed, the Emergency Economic Stabilization Act of 2008. See this FEI summary by Cady North, Manager, Government Affairs, FEI. This has been a busy week for legislative and regulatory developments, for more news updates, visit the FEI Financial Reporting Blog, part of AccountingWeb's Blogger's Crew.