The Financial Accounting Standards Board has agreed to issue additional LIBOR transition relief, providing the loan market assurance that the accounting body will address the major accounting issues presented by the transition.
In a decision that could significantly ease the loan market’s transition from Libor to an alternative reference rate, the Financial Accounting Standards Board announced recently that it will soon take steps toward providing much-needed accounting relief for firms and organizations affected by the transition.
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.