The Financial Accounting Standards Board issued a revised exposure draft, titled, "Accounting for Transfers of Financial Assets."

The statement seeks to clarify derecognition requirements for financial assets that were initially explained in FASB Statement No. 125, "Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities," and revised in Statement 140. The exposure draft also seeks to simplify the initial measurement of interests related to transferred financial assets, changes principally applying to securitizations and loan participations.

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