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BRIEFLY

The FASB is looking into new accounting rules.

May 19, 1986

The Financial Accounting Standards Board says that concern over an increasing variety of new financial instruments and a wide diversity of accounting practices has prompted it to begin a long-term investigation. The FASB said the project will have financial reporting implications for banks, other financial institutions and all enterprises using financial instruments. The Stamford, Conn.-based organization also said that the investigation will address such issues as repurchase agreements, interest rate swaps, collateralized mortgage obligations, non-recourse debt, put and call options, unusual preferred stock and financial guarantees, in addition to more conventional instruments such as mortgage loans and marketable securities.

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