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The Emerging Accounting Issues Working Group responds to questions of application, interpretation and clarification that are generally much narrower in scope than development of a new Statement of Statutory Accounting Principle (SSAP). The EAIWG reaches a consensus position on a specific issue, and this consensus position is captured in an Interpretation (INT) of an SSAP. In no event shall a consensus opinion of the EAIWG amend, supersede or otherwise conflict with existing, effective SSAPs. For this reason, many times the EAIWG will refer items to the Statutory Accounting Principles Working Group.
Issues for consideration by the EAIWG can be submitted via a Form B to NAIC staff support.
2009 Charges
- Provide authoritative guidance on current statutory accounting issues, generally relating to application, interpretation and clarification of existing statutory accounting principles, by conducting quarterly meetings at NAIC National Meeting sites when necessary;
- Evaluate individual statutory accounting issues based on its established two meeting timeline and report its findings to the Accounting Practices and Procedures (E) Task Force.
Application of the Fair Value Definition
Comments on following exposed tentative positions should be forwarded to jtittle@naic.org or rmarcott@naic.org by the October 28, 2009 comment deadline.
| EXPOSURE
OF NEW TENTATIVE INTERPRETATIONS |
|
Tentative INT |
Raised By |
Guidance Interpreted |
Tentative Consensus |
INT 09-07T
INT 09-07T - Clean
|
NAIC Staff |
Accounting for Re-Securitization of Loan-Backed and Structured Securities (e.g., ReREMICs) |
Tentative consensus providing guidance on ReREMIC transactions.
Re-exposed at the Fall National Meeting reflecting the interested parties’ proposed view |
| INT 09-08T |
NAIC Staff |
Statutory Accounting for Loans Received Under the Federal TALF Program |
Tentative consensus indicating that loans received and collateral provided under the TALF program do not meet the right of offset. Loans received and collateral provided under the TALF program shall be reported separately, on a gross basis, until time of default on the received loan |
| INT 09-09T |
NAIC Staff |
Compilation of Rejected INTS |
Tentative consensus to incorporate “rejected” and “non-applicable” FASB EITFs that do not provide additional statutory accounting guidance in a listing within a designated interpretation. Interpretations included within this listing will be removed from Appendix B of the AP&P Manual |
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