Statement 133 Implementation

Guidance on Statement 133 Implementation Issues

IMPORTANT NOTICE
The guidance on Statement 133 implementation issues available below are superseded by FASB Accounting Standards Codification Topic 105, Generally Accepted Accounting Principles.

The below Statement 133 implementation issues includes both tentative conclusions and conclusions that have been formally cleared by the Board. The issues that have been cleared are distinguished in the following index with an asterisk (*) placed to the left of the issue title. The index also indicates the date cleared by the Board or, for uncleared issues, the date the guidance was released.

Each of the cleared issues indicates that the "response has been authored by the FASB staff and represents the staff's views, although the Board has discussed the above response at a public meeting and chosen not to object to dissemination of that response. Official positions of the FASB are determined only after extensive due process and deliberation."


Recent Modifications

The staff's previous tentative conclusions in Proposed Statement 133 Implementation Issue No. B12, “Beneficial Interests Issued by Qualifying Special-Purpose Entities” were withdrawn on June 12, 2009, due to the issuance of FASB Statement No. 166, Accounting for Transfers of Financial Assets, which removed the concept of a qualifying special-purpose entity from FASB Statement No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities.

Statement 133 Implementation Issues Index as of June 12, 2009

Section A: Definition of a Derivative
*Issue A1—Initial Net Investment
(Cleared 06/23/99; Revised 2/16/06)

*Issue A2—Existence of a Market Mechanism That Facilitates Net Settlement
(Superseded)

*Issue A3—Impact of Market Liquidity on the Existence of a Market Mechanism
(Cleared 02/17/99)
[Previously titled: Net Settlement Provisions]

Issue A4—[Refer to Section C, Issue C5]

*Issue A5—Penalties for Nonperformance That Constitute Net Settlement
(Cleared 11/23/99)

*Issue A6—Notional Amounts of Commodity Contracts
(Cleared 11/23/99; Revised 12/06/00)

*Issue A7—Effect of Contractual Provisions on the Existence of a Market Mechanism That Facilitates Net Settlement
(Cleared 11/23/99; Revised 3/26/03)

*Issue A8—Asymmetrical Default Provisions
(Cleared 11/23/99; Revised 3/26/03)

*Issue A9—Prepaid Interest Rate Swaps
(Superseded)

*Issue A10—Assets That Are Readily Convertible to Cash
(Cleared 5/17/00)

*Issue A11—Determination of an Underlying When a Commodity Contract Includes a Fixed Element and a Variable Element
(Cleared 6/28/00; Revised 9/25/00)

*Issue A12—Impact of Daily Transaction Volume on Assessment of Whether an Asset Is Readily Convertible to Cash
(Cleared 6/28/00)

*Issue A13—Whether Settlement Provisions That Require a Structured Payout Constitute Net Settlement under Paragraph 9(a)
(Cleared 12/06/00; Revised 3/26/03)

*Issue A14—Derivative Treatment of Stock Purchase Warrants Issued by a Company for Its Own Shares of Stock Where the Subsequent Sale or Transfer Is Restricted
(Cleared 12/06/00; Revised 3/26/03)

*Issue A15—Effect of Offsetting Contracts on the Existence of a Market Mechanism That Facilitates Net Settlement
(Cleared 12/06/00; Revised 3/13/02)

*Issue A16—Synthetic Guaranteed Investment Contracts
(Cleared 3/14/01)

*Issue A17—Contracts That Provide for Net Share Settlement
(Cleared 3/21/01; Revised 3/26/03)

*Issue A18—Application of Market Mechanism and Readily Convertible to Cash Subsequent to the Inception or Acquisition of a Contract
(Cleared 09/19/01; Revised 5/27/03)

*Issue A19—Impact of a Multiple Delivery Long-Term Supply Contract on Assessment of Whether an Asset Is Readily Convertible to Cash
(Cleared 09/19/01)

Issue A20—[Number not used. Staff's previous tentative conclusions withdrawn on March 26, 2003.]

*Issue A21—Existence of an Established Market Mechanism That Facilitates Net Settlement under Paragraph 9(b)
(Cleared 03/13/02)

Issue A22—[Number not used. Staff's previous tentative conclusions withdrawn on March 13, 2002.]

*Issue A23—Prepaid Interest Rate Swaps
(Cleared 7/30/03; Revised 09/15/06)

*When a Loan Commitment Is Included in the Scope of Statement 133 (Refer to Issue C13)
(Cleared 3/13/02; Revised 3/26/03)
 

Section B: Embedded Derivatives
*Issue B1—Separating the Embedded Derivative from the Host Contract
(Cleared 06/23/99; Revised 2/16/06)

*Issue B2—Leveraged Embedded Terms
(Cleared 02/17/99; Revised 2/16/06)

*Issue B3—Investor’s Accounting for a Put or Call Option Attached to a Debt Instrument Contemporaneously with or Subsequent to Its Issuance
(Cleared 03/31/99; Revised 9/25/00)

*Issue B4—Foreign Currency Derivatives
(Cleared 07/28/99; Revised 06/16/06)

*Issue B5—Investor Permitted, but Not Forced, to Settle without Recovering Substantially All of the Initial Net Investment
(Cleared 07/28/99; Revised 06/16/06)

*Issue B6—Allocating the Basis of a Hybrid Instrument to the Host Contract and the Embedded Derivative
(Cleared 07/28/99; Revised 2/16/06)

*Issue B7—Variable Annuity Products and Policyholder Ownership of the Assets
(Cleared 06/23/99; Revised 9/25/00)

*Issue B8—Identification of the Host Contract in a Nontraditional Variable Annuity Contract
(Cleared 07/28/99; Revised 9/25/00)

*Issue B9—Clearly and Closely Related Criteria for Market Adjusted Value Prepayment Options
(Cleared 12/06/00)

*Issue B10—Equity-Indexed Life Insurance Contracts
(Cleared 07/28/99; Revised 06/16/06)

*Issue B11—Volumetric Production Payments
(Cleared 5/17/00; Revised 06/16/06)

Issue B12—[Number not used. Staff's previous tentative conclusions withdrawn on June 12, 2009 due to the issuance of FASB Statement No. 166, Accounting for Transfers of Financial Assets.]

*Issue B13—Accounting for Remarketable Put Bonds
(Cleared 5/17/00; Revised 09/15/06)

*Issue B14—Purchase Contracts with a Selling Price Subject to a Cap and a Floor
(Cleared 5/17/00; Revised 3/26/03)

*Issue B15—Separate Accounting for Multiple Derivative Features Embedded in a Single Hybrid Instrument
(Cleared 5/17/00; Revised 2/16/06)

*Issue B16—Calls and Puts in Debt Instruments
(Cleared 5/17/00; Revised 6/29/05)
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*Issue B17—Term-Extending Options in Contracts Other Than Debt Hosts
(Cleared 6/28/00; Revised 06/16/06)

*Issue B18—Applicability of Paragraph 12 to Contracts That Meet the Exception in Paragraph 10(b)
(Cleared 6/28/00; Revised 3/26/03)

*Issue B19—Identifying the Characteristics of a Debt Host Contract
(Cleared 6/28/00)

*Issue B20—Must the Terms of a Separated Non-Option Embedded Derivative Produce a Zero Fair Value at Inception?
(Cleared 6/28/00; Revised 2/16/06)

*Issue B21—When Embedded Foreign Currency Derivatives Warrant Separate Accounting
(Cleared 6/28/00; Revised 3/26/03)

*Issue B22—Whether the Terms of a Separated Option-Based Embedded Derivative Must Produce a Zero Fair Value (Other than Time Value)
(Cleared 12/06/00)

*Issue B23—Terms of a Separated Non-Option Embedded Derivative When the Holder Has Acquired the Hybrid Instrument Subsequent to Its Inception
(Cleared 12/06/00; Revised 2/16/06)

*Issue B24—Interaction of the Requirements of EITF Issue No. 86-28 and Statement 133 Related to Structured Notes Containing Embedded Derivatives
(Cleared 12/06/00; Revised 2/16/06)

*Issue B25—Deferred Variable Annuity Contracts with Payment Alternatives at the end of the Accumulation Period
(Cleared 3/14/01; Revised 12/19/01)
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*Issue B26—Dual-Trigger Property and Casualty Insurance Contracts
(Cleared 3/14/01)

*Issue B27—Dual-Trigger Financial Guarantee Contracts
(Cleared 3/14/01; Revised 3/26/03)

*Issue B28—Foreign Currency Elements of Insurance Contracts
(Cleared 3/14/01; Revised 3/26/03)

*Issue B29—Equity-Indexed Annuity Contracts with Embedded Derivatives
(Cleared 3/14/01; Revised 06/16/06)

*Issue B30—Application of Statement 97 and Statement 133 to Equity-Indexed Annuity Contracts
(Cleared 3/14/01; Revised 06/16/06)

*Issue B31—Accounting for Purchases of Life Insurance
(Cleared 7/11/01; Revised 3/27/06)

*Issue B32—Application of Paragraph 15(a) regarding Substantial Party to a Contract
(Cleared 3/21/01; Revised 3/26/03)

*Issue B33—Applicability of Paragraph 15 to Embedded Foreign Currency Options
(Cleared 3/21/01; Revised 3/26/03)

Issue B34—[Refer to Section B, Issue B25]

*Issue B35—Application of Statement 133 to a Not-for-Profit Organization’s Obligation Arising from an Irrevocable Split-Interest Agreement
(Cleared 04/09/02; Revised 09/15/06)

*Issue B36—Modified Coinsurance Arrangements and Debt Instruments That Incorporate Credit Risk Exposures That Are Unrelated or Only Partially Related to the Creditworthiness of the Obligor under Those Instruments
(Cleared 4/02/03; Revised 06/16/06)

*Issue B37—Mandatorily Redeemable Preferred Stock Denominated in either a Precious Metal or a Foreign Currency
(Cleared 6/28/00; Revised 06/16/06)

*Issue B38—Evaluation of Net Settlement with Respect to the Settlement of a Debt Instrument through Exercise of an Embedded Put Option or Call Option
(Cleared 06/29/05)

*Issue B39—Application of Paragraph 13(b) to Call Options That Are Exercisable Only by the Debtor
(Cleared 06/29/05; Revised 12/20/06)

*Issue B40—Application of Paragraph 13(b) to Securitized Interests in Prepayable Financial Assets
(Cleared 12/20/06)

Section C: Scope Exceptions
*Issue C1—Exception Related to Physical Variables
(Cleared 02/17/99)

*Issue C2—Application of the Exception to Contracts Classified in Temporary Equity
(Cleared 02/17/99; Revised 5/27/03)

*Issue C3—Exception Related to Share-Based Payment Arrangements
(Cleared 02/17/99; Revised 06/16/06)

*Issue C4—Interest-Only and Principal-Only Strips
(Superseded)

*Issue C5—Exception Related to a Nonfinancial Asset of One of the Parties
(Cleared 02/17/99)

*Issue C6—Derivative Instruments Related to Assets Transferred in Financing Transactions
(Cleared 03/31/99; Revised 3/26/03)

*Issue C7—Certain Financial Guarantee Contracts
(Superseded)

*Issue C8—Derivatives That Are Indexed to both an Entity's Own Stock and Currency Exchange Rates
(Cleared 5/17/00)

Issue C9—[Refer to Section B, Issue B37]

*Issue C10—Can Option Contracts and Forward Contracts with Optionality Features Qualify for the Normal Purchases and Normal Sales Exception?
(Cleared 3/21/01; Revised 3/26/03)

*Issue C11—Interpretation of Clearly and Closely Related in Contracts That Qualify for the Normal Purchases and Normal Sales Exception
(Superseded)

*Issue C12—Interpreting the Normal Purchases and Normal Sales Exception as an Election
(Cleared 3/21/01; Revised 3/26/03)

*Issue C13—When a Loan Commitment Is Included in the Scope of Statement 133
(Cleared 03/13/02; Revised 3/26/03)

Issue C14—[Number not used. Staff's previous tentative conclusions withdrawn on June 29, 2001.]

*Issue C15—Normal Purchases and Normal Sales Exception for Certain Option-Type Contracts and Forward Contracts in Electricity
(Cleared 06/27/01; Revised 11/05/03)

*Issue C16—Applying the Normal Purchases and Normal Sales Exception to Contracts That Combine a Forward Contract and a Purchased Option Contract
(Cleared 09/19/01; Revised 3/26/03)

Issue C17—[Number not used. Staff's previous tentative conclusions withdrawn on February 16, 2006, and incorporated into Statement 155.]

*Issue C18—Shortest Period Criterion for Applying the Regular-Way Security Trades Exception to When-Issued Securities or Other Securities That Do Not Yet Exist
(Cleared 03/26/03)

Issue C19—[Number not used. Staff's previous tentative conclusions withdrawn on March 26, 2003, and incorporated into Statement 149.]

*Issue C20—Interpretation of the Meaning of Not Clearly and Closely Related in Paragraph 10(b) regarding Contracts with a Price Adjustment Feature
(Cleared 06/25/03)

Issue C21—[Number not used. Staff's previous tentative conclusions withdrawn on June 25, 2008 because the issue was resolved by the consensus in EITF Issue No. 07-5, “Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity’s Own Stock.”]

Issue C22—Exception Related to Embedded Credit Derivatives
(Released 01/09)

Section D: Recognition and Measurement of Derivatives
*Issue D1—Application of Statement 133 to Beneficial Interests in Securitized Financial Assets
(Cleared 6/28/00; Revised 06/16/06)

Issue D2—[Number not used. Staff's previous tentative conclusions withdrawn on March 26, 2003.]

Section E: Hedging – General
*Issue E1—Hedging the Risk-Free Interest Rate
(Superseded)

*Issue E2—Combinations of Options
(Cleared 03/31/99)

*Issue E3—Hedging with Intercompany Derivatives
(Cleared 03/31/99; Revised 9/25/00)

*Issue E4—Application of the Shortcut Method
(Cleared 07/28/99; Revised 3/26/03)

*Issue E5—Complex Combinations of Options
(Cleared 11/23/99)

*Issue E6—The Shortcut Method and the Provisions That Permit the Debtor or Creditor to Require Prepayment
(Cleared 5/17/00; Revised 06/16/06)

*Issue E7—Methodologies to Assess Effectiveness of Fair Value and Cash Flow Hedges
(Cleared 5/17/00)

*Issue E8—Assessing Hedge Effectiveness of Fair Value and Cash Flow Hedges Period-by-Period or Cumulatively under a Dollar-Offset Approach
(Cleared 6/28/00)

*Issue E9—Is Changing the Method of Assessing Effectiveness through Dedesignation of One Hedging Relationship and the Designation of a New One a Change in Accounting Principle?
(Cleared 6/28/00; Revised 06/01/05)

*Issue E10—Application of the Shortcut Method to Hedges of a Portion of an Interest-Bearing Asset or Liability (or Its Related Interest) or a Portfolio of Similar Interest-Bearing Assets or Liabilities
(Cleared 6/28/00; Revised 9/25/00)

*Issue E11—Hedged Exposure Is Limited but Derivative's Exposure Is Not
(Cleared 12/06/00)

*Issue E12—How Paragraph 68(c) Applies to an Interest Rate Swap That Trades at an Interim Date
(Cleared 12/06/00)

Issue E13—[Refer to Section C, Issue C13]

Issue E14—[Refer to Section E, Issue E6]

*Issue E15—Continuing the Shortcut Method after a Purchase Business Combination
(Cleared 3/21/01; Revised 12/06/07)

*Issue E16—Application of the Shortcut Method for an Interest Rate Swap-in-Arrears
(Cleared 3/21/01)

*Issue E17—Designating a Normal Purchase Contract or a Normal Sales Contract as the Hedged Item in a Fair Value Hedge or Cash Flow Hedge
(Cleared 3/21/01)

*Issue E18—Designating A Zero-Cost Collar with Different Notional Amounts As a Hedging Instrument
(Cleared 3/21/01; Revised 11/21/01)

*Issue E19—Methods of Assessing Hedge Effectiveness When Options Are Designated as the Hedging Instrument
(Cleared 3/21/01; Revised 12/15/04)

*Issue E20—The Strike Price for Determining When a Swap Contains Mirror-Image Call Provision
(Cleared 06/27/01)

Issue E21—[Number not used. Staff's previous tentative conclusions withdrawn on March 26, 2003.]

*Issue E22—Accounting for the Discontinuance of Hedging Relationships Arising from Changes in Consolidation Practices Related to Applying FASB Interpretation No. 46 or 46(R)
(Cleared 11/05/03; Revised 02/10/04)

Issue E23—Issues Involving the Application of the Shortcut Method under Paragraph 68
(Cleared 12/20/07)

Section F: Fair Value Hedges
*Issue F1—Stratification of Servicing Assets
(Cleared 02/17/99; Revised 03/17/06)

*Issue F2—Partial-Term Hedging
(Cleared 07/28/99; Revised 9/25/00)

*Issue F3—Firm Commitments-Statutory Remedies for Default Constituting a Disincentive for Nonperformance
(Cleared 11/23/99)

*Issue F4—Interaction of Statement 133 and Statement 114
(Cleared 11/23/99; Revised 9/25/00)

*Issue F5—Basing the Expectation of Highly Effective Offset on a Shorter Period Than the Life of the Derivative
(Cleared 11/23/99)

*Issue F6—Concurrent Offsetting Matching Swaps and Use of One as Hedging Instrument
(Cleared 12/06/00)

*Issue F7—Application of Written-Option Test in Paragraph 20(c) to Collar-Based Hedging Relationships
(Cleared 12/06/00)

*Issue F8—Hedging Mortgage Servicing Right Assets Using Preset Hedge Coverage Ratios
(Cleared 3/21/01; Revised 03/17/06)

Issue F9—Hedging a Portion of a Portfolio of Fixed-Rate Loans
(Released 01/01)

*Issue F10—Definition of Firm Commitment in Relation to Long-Term Supply Contracts with Embedded Price Caps or Floors
(Cleared 06/27/01; Revised 3/26/03)

*Issue F11—Hedging a Portfolio of Loans
(Cleared 09/19/01)

Section G: Cash Flow Hedges
*Issue G1—Hedging an SAR Obligation
(Cleared 02/17/99; Revised 12/15/04)

*Issue G2—Hedged Transactions That Arise from Gross Settlement of a Derivative ("All in One" Hedges)
(Cleared 03/31/99)

*Issue G3—Discontinuation of a Cash Flow Hedge
(Cleared 03/31/99; Revised 9/25/00)

*Issue G4—Hedging Voluntary Increases in Interest Credited on an Insurance Contract Liability
(Cleared 07/28/99; Revised 9/25/00)

*Issue G5—Hedging the Variable Price Component
(Cleared 11/23/99)

*Issue G6—Impact of Implementation Issue E1 on Cash Flow Hedges of Market Interest Rate Risk
(Superseded)

*Issue G7—Measuring the Ineffectiveness of a Cash Flow Hedge under Paragraph 30(b) When the Shortcut Method Is Not Applied
(Cleared 5/17/00; Revised 7/11/00)

*Issue G8—Hedging Interest Rate Risk of Foreign-Currency-Denominated Floating-Rate Debt
(Superseded)

*Issue G9—Assuming No Ineffectiveness When Critical Terms of the Hedging Instrument and the Hedged Transaction Match in a Cash Flow Hedge
(Cleared 6/28/00)

*Issue G10—Need to Consider Possibility of Default by the Counterparty to the Hedging Derivative
(Cleared 6/28/00)

 *Issue G11—Defining the Risk Exposure for Hedging Relationships Involving an Option Contract as the Hedging Instrument
(Cleared 6/28/00; Revised 11/21/01)

 *Issue G12—Use of Shortcut Method for Cash Flow Hedge of Variable-Rate Operating Lease
(Cleared 12/06/00)

 *Issue G13—Hedging the Variable Interest Payments on a Group of Floating-Rate Interest-Bearing Loans
(Cleared 12/20/00)

 *Issue G14—Assessing the Probability of the Forecasted Acquisition of a Marketable Security Hedged by a Purchased Option or Warrant
(Cleared 12/06/00)

 *Issue G15—Combinations of Options Involving One Written Option and Two Purchased Options
(Cleared 12/06/00)

 *Issue G16—Designating the Hedged Forecasted Transaction When Its Timing Involves Some Uncertainty within a Range
(Cleared 3/21/01)

 *Issue G17—Impact on Accumulated Other Comprehensive Income of Issuing Debt with a Term That Is Shorter Than Originally Forecasted
(Cleared 3/21/01)

 *Issue G18—Impact on Accumulated Other Comprehensive Income from Issuing Debt at a Date That Is Not the Same as Originally Forecasted
(Cleared 3/21/01)

 *Issue G19—Hedging Interest Rate Risk for the Forecasted Issuances of Fixed-Rate Debt Arising from a Rollover Strategy
(Cleared 3/21/01; Revised 12/13/06)

 *Issue G20—Assessing and Measuring the Effectiveness of a Purchased Option Used in a Cash Flow Hedge
(Cleared 06/27/01)

 *Issue G21—Determination of the Appropriate Hypothetical Derivative for Floating-Rate Debt That Is Prepayable at Par at Each Interest Reset Date
(Cleared 06/27/01)

 *Issue G22—Using a Complex Option as a Hedging Derivative
(Cleared 09/19/01)

 *Issue G23—Hedging Portions of a Foreign-Currency-Denominated Financial Asset or Liability Using the Cash Flow Model
(Cleared 09/19/01)
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Issue G24—[Number not used. Staff's previous tentative conclusions incorporated into Issue E22.]

*Issue G25—Using the First-Payments-Received Technique in Hedging the Variable Interest Payments on a Group of Non-Benchmark-Rate-Based Loans
(Cleared 07/27/04)

*Issue G26—Hedging Interest Cash Flows on Variable-Rate Assets and Liabilities That Are Not Based on a Benchmark Interest Rate
(Cleared 12/13/06)

Section H: Foreign Currency Hedges
*Issue H1—Hedging at the Operating Unit Level
(Cleared 02/17/99; Revised 9/25/00)

*Issue H2—Requirement That the Unit with the Exposure Must Be a Party to the Hedge
(Superseded)

*Issue H3—Hedging the Entire Fair Value of a Foreign-Currency-Denominated Asset or Liability
(Superseded)

*Issue H4—Hedging Foreign-Currency-Denominated Interest Payments
(Cleared 07/28/99; Revised 9/25/00)

*Issue H5—Hedging a Firm Commitment or Fixed-Price Agreement Denominated in a Foreign Currency
(Cleared 07/28/99; Revised 9/25/00)

*Issue H6—Accounting for Premium or Discount on a Forward Contract Used as the Hedging Instrument in a Net Investment Hedge
(Cleared 11/23/99)

*Issue H7—Frequency of Designation of Hedged Net Investment
(Cleared 11/23/99)

*Issue H8—Measuring the Amount of Ineffectiveness in a Net Investment Hedge
(Cleared 12/13/00; Revised 2/28/01)

*Issue H9—Hedging a Net Investment with a Compound Derivative That Incorporates Exposure to Multiple Risks
(Cleared 12/13/00)

*Issue H10—Hedging Net Investment with the Combination of a Derivative and a Cash Instrument
(Cleared 5/17/00)

*Issue H11—Designation of a Foreign-Currency-Denominated Debt Instrument as both the Hedging Instrument in a Net Investment Hedge and the Hedged Item in a Fair Value Hedge
(Cleared 6/28/00)

*Issue H12—Designation of an Intercompany Loan or Other Payable as the Hedging Instrument in a Fair Value Hedge of an Unrecognized Firm Commitment
(Cleared 6/28/00; Revised 9/25/00)

*Issue H13—Reclassifying into Earnings Amounts Accumulated in Other Comprehensive Income Related to a Cash Flow Hedge of a Forecasted Foreign-Currency-Denominated Intercompany Sale
(Cleared 6/28/00)

*Issue H14—Offsetting a Subsidiary’s Exposure on a Net Basis in Which Neither Leg of the Third-Party Position Is in the Treasury Center’s Functional Currency
(Cleared 3/21/01)

*Issue H15—Using a Forward Contract to Hedge a Forecasted Foreign Currency Transaction That Becomes Recognized
(Cleared 3/21/01; Revised 11/21/01)
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*Issue H16—Reference in Paragraph 40(e) about Eliminating All Variability in Cash Flows
(Cleared 09/19/01)

Issue H17—[Number not used. Staff's previous tentative conclusions withdrawn on March 21, 2007.]

Section I: Disclosures
*Issue I1—Interaction of the Disclosure Requirements of Statement 133 and Statement 47
(Cleared 5/17/00; Revised 03/19/08)

*Issue I2—Near-Term Reclassification of Gains and Losses That Are Reported in Accumulated Other Comprehensive Income
(Cleared 06/27/01; Revised 09/15/06)

Section J: Transition Provisions
*Issue J1—Embedded Derivatives Exercised or Expired Prior to Initial Application
(Cleared 02/17/99; Revised 08/02/99)

*Issue J2—Hedging with Intercompany Derivatives
(Cleared 07/28/99)

*Issue J3—Requirements for Hedge Designation and Documentation on the First Day of Initial Application
(Cleared 07/28/99)

*Issue J4—Transition Adjustment for Option Contracts Used in a Cash-Flow-Type Hedge
[Conclusions incorporated into Issue J15]
(Superseded)

*Issue J5—Floating-Rate Currency Swaps
(Cleared 11/23/99; Revised 9/25/00)

*Issue J6—Fixed-Rate Currency Swaps
(Cleared 11/23/99)

*Issue J7—Transfer of Financial Assets Accounted for Like Available-for-Sale Securities into Trading
(Cleared 11/23/99; Revised 03/17/06)

*Issue J8—Adjusting the Hedged Item's Carrying Amount for the Transition Adjustment Related to a Fair-Value-Type Hedging Relationship
(Cleared 5/17/00)

*Issue J9—Use of the Shortcut Method in the Transition Adjustment and Upon Initial Adoption
(Cleared 5/17/00)

*Issue J10—Transition Adjustment for a Fixed-Price Purchase or Sale Contract That Meets the Definition of a Derivative upon Initial Application
(Cleared 6/28/00)

*Issue J11—Transition Adjustment for Net Investment Hedges
(Cleared 12/13/00)

*Issue J12—Intercompany Derivatives and the Shortcut Method
(Superseded)

*Issue J13—Indexed Debt Hedging Equity Investment
(Cleared 12/06/00)

*Issue J14—Using Either the Fair Value or Cash Flow Hedging Model to Hedge a Structured Note
(Cleared 12/06/00)

*Issue J15—Pre-Existing Hedge Ineffectiveness of a Derivative
(Cleared 3/21/01)

*Issue J16—Effect of a Transition Adjustment Included in Accumulated Other Comprehensive Income on the Application of Paragraph 30
(Cleared 3/21/01)

*Issue J17—Is a Pre-Existing Foreign Currency Hedge Related to an Intercompany "Firm Commitment" a Fair-Value-Type Hedge or a Cash-Flow-Type Hedge?
(Cleared 3/21/01)

*Issue J18—Foreign-Currency-Denominated Transactions Accounted for under EITF Issue 88-18
(Cleared 06/27/01)

*Issue J19—Application of the Normal Purchases and Normal Sales Exception on Initial Adoption to Certain Compound Derivatives
(Cleared 12/19/01)

Section K: Miscellaneous
*Issue K1—Determining Whether Separate Transactions Should Be Viewed as a Unit
(Cleared 02/17/99)

*Issue K2—Are Transferable Options Freestanding or Embedded?
(Cleared 5/17/00)

*Issue K3—Determination of Whether Combinations of Options with the Same Terms Must Be Viewed as Separate Option Contracts or as a Single Forward Contract
(Cleared 5/17/00; Revised 5/27/03)

*Issue K4—Income Statement Classification of Hedge Ineffectiveness and the Component of a Derivative’s Gain or Loss Excluded from the Assessment of Hedge Effectiveness
(Cleared 12/06/00; Revised 03/19/08)

*Issue K5—Transition Provisions for Applying the Guidance in Statement 133 Implementation Issues
(Cleared 06/27/01; Revised 06/01/05)


Changes to the Special Appendix in the January 10, 2008, Edition of the Derivatives and Hedging Green Book through January 14, 2009
Download the additional changes made to the Special Appendix in the January 10, 2008, edition of the bound FASB publication, Accounting for Derivative Instruments and Hedging Activities (a/k/a the Green Book). The changes, which are shown in marked draft format, reflect the authoritative FASB guidance issued through January 14, 2009.

Changes to the February 10, 2004, Edition of the Derivatives and Hedging Green Book through January 14, 2009
Download the changes made to the material in the February 10, 2004, edition of the bound FASB publication, Accounting for Derivative Instruments and Hedging Activities (a/k/a the Green Book). The changes, which are shown in marked draft format, reflect the authoritative FASB guidance issued through January 14, 2009.

Derivatives Implementation Notification Service by Email

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Index—Statement 133 Implementation Issues
·    Download Index and Issues-Sections A-C
·    Download Index and Issues-Sections D-K
All issues as of June 12, 2009.

Issues with Tentative Guidance 

Download tentative guidance as of June 12, 2009. The comment letter due date for each issue is indicated in the index on page 1.