Summary of May 19, 1999 Board Meeting Discussion

Summary of May 19, 1999 Board Meeting Discussion

Summary of May 19, 1999 Board Meeting Discussion of Requests to Defer the Effective Date of Statement 133

Deferral of Statement 133. The Board considered requests to defer the effective date of FASB Statement No. 133, Accounting for Derivative Instruments and Hedging Activities. The Board decided to defer the effective date for one year, to all fiscal quarters of all fiscal years beginning after June 15, 2000. The Board directed the staff to prepare a draft of the proposed deferral for vote by written ballot.