The International Financial Reporting Interpretations Committee of the International Accounting Standards Board has published two tentative agenda decisions on IAS 39 regarding recognition and measurement on both retention of servicing rights as well as revolving structures. IFRIC has tentatively decided not to add these issues to its agenda for the November meeting as it did not expect significant diversity in practice to arise.

But the European Securitization Forum is in the process of gauging industry response to the tentative decision and last week met with some industry players who have worked with IASB since the inception of IAS 39. Carlos Echave, a director at the ESF who is looking into the matter, said that contrary to the conclusions reached by the IFRIC, there is a diversity in practice regarding these matters.

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