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FASB edits hedging standard, more changes to come

Tammy Whitehouse | October 26, 2018

The Financial Accounting Standards Board has finalized a change to the new hedge accounting standard that expands the list of permissible U.S. benchmark interest rates.

FASB approved Accounting Standards Update No. 2018-16 to revise the rules under Accounting Standards Codification Topic 815 on derivatives and hedging to address concerns about benchmark rates that could be applied under new guidance, which takes effect Jan. 1, 2019. As companies prepare for the new hedge accounting standard, FASB heard concerns about rates permitted under the standard, prompting the amendments.

Under U.S. GAAP rules regarding hedging, eligible benchmark interest rates are those rates on direct U.S. Treasury obligations, the London...

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