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Statements of Position

1988

Accounting -- Terminology; Bank examination -- Standards -- United States

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Proposed Statement Of Position : Definition Substantially The Same For Holders Of Debt Instruments;Definition Substantially The Same For Holders Of Debt Instruments; Exposure Draft (American Institute Of Certified Public Accountants), 1988, Apr. 29, American Institute Of Certified Public Accountants. Accounting Standards Division, American Institute Of Certified Public Accountants. Committee On Banking, American Institute Of Certified Public Accountants. Savings And Loan Associations Committee, American Institute Of Certified Public Accountants. Stockbrokerage And Investment Banking Committee Jan 1988

Proposed Statement Of Position : Definition Substantially The Same For Holders Of Debt Instruments;Definition Substantially The Same For Holders Of Debt Instruments; Exposure Draft (American Institute Of Certified Public Accountants), 1988, Apr. 29, American Institute Of Certified Public Accountants. Accounting Standards Division, American Institute Of Certified Public Accountants. Committee On Banking, American Institute Of Certified Public Accountants. Savings And Loan Associations Committee, American Institute Of Certified Public Accountants. Stockbrokerage And Investment Banking Committee

Statements of Position

The AICPA's Banking Committee, Savings and Loan Associations Committee, and Stockbrokerage and Investment Banking Committee conclude the following: For debt instruments, including mortgage-backed securities, to be substantially the same, all the following criteria must be met: A. The debt instruments must have the same primary obligor, except for debt instruments guaranteed by a sovereign goverment, central bank, or agency, thereof, in which case the guarantor must be the same. B. The debt instruments must be identical in form and type. C. The debt instruments must bear the identical contractual interest rate. D. The debt instruments must have the same ...