Norwalk, Conn. (June 12, 2003) -- The Financial Accounting Standards Board has issued an exposure draft that would amend a portion of FASB Statement 140 to provide specific guidance on accounting for transfers of financial assets to a qualifying special purpose entity, such as a corporate trust.

Statement 140 describes how and when businesses should account for the transfer of financial assets. The exposure draft only addresses amending the section that deals with QSPEs.

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