FASB Issues Proposed Standard on Disclosures
The Financial Accounting Standards Board (FASB) has issued a proposed standard that is intended to help financial statement users better understand organizations’ exposure to liquidity risk and interest rate risk. The proposed liquidity risk disclosures would provide information about the risk encountered by the reporting organization when meeting its financial obligations and would apply to all private, public and not-for-profit organizations, including credit unions. The proposed interest rate risk disclosures would provide information about the exposure of financial assets and liabilities to market interest rate fluctuations.
FASB is accepting comments through September 25. Comments are due to CUNA by September 14.