Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Monday, November 5, 2007

SEC Staff Bulletin on Accounting for Written Loan Commitments Recorded at Fair Value

The SEC's Office of the Chief Accountant and Division of Corporation Finance today announced the release of Staff Accounting Bulletin (SAB) No. 109, "Written Loan Commitments Recorded at Fair Value Through Earnings." The SAB provides the staff's views on the accounting for written loan commitments recorded at fair value under generally accepted accounting principles (GAAP).

To make the staff's views consistent with current authoritative accounting guidance, the SAB revises and rescinds portions of SAB No. 105, "Application of Accounting Principles to Loan Commitments."

Specifically, the SAB revises the SEC staff's views on incorporating expected net future cash flows related to loan servicing activities in the fair value measurement of a written loan commitment. The SAB retains the staff's views on incorporating expected net future cash flows related to internally-developed intangible assets in the fair value measurement of a written loan commitment.

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