Emerging Accounting Issues (E) Working Group
December 2, 2007

The working group took the following actions on its Tentative Positions:

• INT 07-04: EITF 06-4: Accounting for Deferred Compensation and Postretirement Benefit Aspects of Endorsement Split-Dollar Life Insurance Arrangements (EITF 06-4)

• Deferred – This issue was deferred pending the Statutory Accounting Principles Working Group review of FAS 158 (pensions).

• INT 07-05: EITF 06-10: Accounting for Deferred Compensation and Postretirement Benefit Aspects of Collateral Assignment Split-Dollar Life Insurance Arrangements (EITF 06-10)

• Deferred – This issue was deferred and interested parties agreed to provide further information.

• INT 07-06: FSP EITF 85-24-1: Application of EITF Issue No. 85-24 When Cash for the Right to Future Distribution Fees for Shares Previously Sold is Received from Third Parties (FSP EITF 85-24-1)

• Final – The tentative consensus was adopted as final. The consensus rejected FSP EITF 85-24-1 as not applicable to statutory accounting.

The working group addressed the following Outstanding Issues:

• Balance Sheet Presentation of Funding Agreements Issued to a Federal Home Loan Bank (FHLB)

• Deferred – This issue was deferred pending further review.  

• Amend INT 03-03: Admissibility of Investments Recorded on the Audited GAAP Equity of the Investee when a Qualified Opinion is Provided (INT 03-03)

• Final – The Working Group adopted language as modified during the meeting to amend INT 03-03 stating that a departure from GAAP due to a statutory audit need not be quantified for admissibility.

The deadline for submission of new items is Feb. 15, 2008.