During last Wednesday's Financial Accounting Standards Board meeting, the staff decided to not object to three of the five FIN 46-related FASB staff positions (FSPs), to approve another, and to reconsider or potentially revise the remaining FSP, which addresses fees paid to decision makers and guarantee providers in a variable interest entity, in calculating the expected loss and expected residual returns.

On Thursday, FASB posted the first five staff positions on its Web site. A source at FASB would not comment on the nature of the revisions to the remaining FSP - or if there will be revisions - other than to confirm that the issue concerning fees had not been finalized and that the Board was still considering the comments it had received.

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