Thursday, April 2 [Revised order of Topics] FASB Board Meeting, 8:00 a.m. (This meeting is available by audio webcast and telephone. 1. Determining whether a market is not active and a transaction is not distressed (estimated 1-hour discussion). The Board will redeliberate proposed FSP FAS 157-e, Determining Whether a Market Is Not Active and a Transaction Is Not Distressed, in light of the comments it has received. 2. Recognition and presentation of other-than-temporary impairments (estimated 1-hour discussion). The Board will redeliberate proposed FSP 115-a, FAS 124-a, and EITF 99-20-b, Recognition and Presentation of Other-Than-Temporary Impairments, in light of comments it has received.
In light of the forthcoming earnings releases from financial institutions, the effect will be huge, IMO.