FASB Releases Tech Bulletin on Statement 140
The Financial Accounting Standards Board (FASB) has published Technical Bulletin No. 01-1, Effective Date for Certain Financial Institutions of Certain Provisions of Statement 140 Related to the Isolation of Transferred Financial Assets.
The Technical Bulletin defers until 2002 application of the isolation standards of Statement 140. Under certain circumstances, banks and certain other financial institutions will be allowed up to five years of additional transition time for transfers of assets to certain securitization master trusts.
The publication is available for purchase at the FASB Web site, or may be ordered by telephone at 800-748-0659. The cost to purchase the technical bulletin is $7.00. Educators are entitled to a 20 percent discount on purchases of FASB publications.