The Financial Accounting Standards Board has issued a staff position aimed at improving disclosures about credit derivatives.

FASB Staff Position No. 133-1 requires more information about the potential adverse effects of changes in credit risk on the financial position, financial performance and cash flows of the sellers of credit derivatives. It amends FASB Statement No. 133, "Accounting for Derivative Instruments and Hedging Activities," to require disclosures by sellers of credit derivatives, including derivatives embedded in hybrid instruments.

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