The Financial Accounting Standards Board released a statement aimed at simplifying the accounting for servicing assets and liabilities, such as those common to mortgage securitization activities.
The statement, No. 156 "Accounting for Servicing of Financial Assets," is an amendment to Financial Accounting Standard No. 140. The board said that the changes will tackle the recognition and measurement of separately recognized servicing assets and liabilities -- providing an approach the board hopes could simplify efforts to obtain offset accounting, similar to hedging.
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