The American Securitization Forum (ASF) and the Securities Industry and Financial Markets Association (SIFMA) today sent a letter stating their concerns regarding Statement 140 and Interpretation 46(R) to the Financial Accounting Standards Board and several regulators.

The ASF and SIFMA said that the Board’s current course of action may have serious unintended consequences.  In particular, the ASF and SIFMA said that a yearend deadline is not a necessary response to current market conditions, and outlined the risks of too much haste.

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