Close
Close

Comment: FASB's proposed ASU - Premium Amortization

Today we submitted a comment letter to the FASB on its proposal to amend the guidance on premium amortization of purchased callable debt securities. We did not support the proposal and stated that the proposal introduces complexity in accounting standards on income recognition on loans and debt securities.

We asked the Board to consider a single amortization model for both debt and equity securities rather than creating a specific scope exception.