Tentative Board Decisions

Tentative Board decisions are provided for those interested in following the Board’s deliberations. All of the reported decisions are tentative and may be changed at future Board meetings.

Wednesday, January 29, 2020 FASB Board Meeting

Codification improvements to financial instruments. The Board discussed a summary of comments on seven financial instrument amendments and decided to finalize these amendments separately from the November 2019 proposed Accounting Standards Update, Codification Improvements.
The Board affirmed its decision on the following items:
  1. Fair value option disclosures
  2. Applicability of portfolio exception in Topic 820, Fair Value Measurement, to nonfinancial items
  3. Disclosures for depository and lending institutions
  4. Cross-reference to line-of-credit or revolving debt arrangements guidance in Subtopic 470-50, Debt—Modifications and Extinguishments
  5. Cross-reference to net asset value practical expedient in Subtopic 820-10, Fair Value Measurement—Overall
  6. Interaction of Topic 842, Leases, and Topic 326, Financial Instruments—Credit Losses
  7. Interaction of Topic 326 and Subtopic 860-20, Transfers and Servicing—Sales of Financial Assets.
Effective Date and Transition Requirements

The Board affirmed its decision on the effective date and transition requirements.
Analysis of Costs and Benefits
The Board concluded that it has received sufficient information and analysis to make an informed decision on the topics presented and that the expected benefits of the amendments would justify the expected costs.
Next Steps
The Board directed the staff to draft a final Accounting Standards Update for vote by written ballot.