The Emerging Issues Task Force briefly discussed tentative changes to the permitted activities of QSPEs issuing beneficial interests (dubbed EITF 02-12) under FASB Statement No. 140, some of which could potentially be conducive to SPEs that act as commercial paper conduits, as well as other types that theoretically fail tests based on discretion over the interests issued to third parties.

The board asked for the staff to acquire more market information, and will revisit the discussion at the next meeting, which has yet to be posted on the FASB's calendar.

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