The Financial Accounting Standards Board has issued an exposure draft outlining changes in the accounting standards for repurchase agreements such as the Repo 105 transactions that have been blamed for contributing to the collapse of Lehman Brothers.
FASB is soliciting input on its proposals to improve the accounting for repo agreements and other agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity. FASB is asking for comments on the proposals by Jan. 15, 2011.
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