Last week the Financial Accounting Standards Board published three new FIN 46-related FASB Staff Positions on its Web site. All three are out for comment until Oct. 3.

The most controversial of the pack address the so-called "kick-out" question, crucial, some say, to certain enterprises evaluating their relationships to CDOs. FIN 46 called for fees paid to a decision maker in a variable interest entity to be included in the expected residual return analysis, should no one party be deemed the majority expected loss holder.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.