FASB No. 115

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FASB No. 115

A rule of the Financial Accounting Standards Board requiring insurance companies to report their securities with fixed maturities according to their current market value. This rule applies to most negotiable and nonnegotiable bonds.
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With the advent of FASB 115, it became increasingly common for companies to pursue buy and hold-to-maturity strategies in order to avoid the impact on profit-and-loss statements often associated with active trading.
When management expresses its intent to sell, and sale is no longer restricted, FASB 115 asks that the value of shares be reclassified to securities held for resale.
Each time an entity undertakes an obligation to service financial assets it should recognize either a servicing asset or a serving liability for that servicing contract, unless it secures the assets, retains all of the resulting securities, and classifies them as debt securities held-to-maturity in accordance with FASB 115, Accounting for Certain Investments in Debt and Equity Securities.
The corporation's debt-to-adjusted total capital ratio, adjusting for FASB 115, was 18.
As with all trading activity, market-driven portfolio adjustments may result in increased transaction charges and jeopardize a FASB 115 "buy and hold" classification.
67% and return on equity excluding FASB 115 accounting effect was 10.
0% (excluding FASB 115 and assuming no decline in shareholders' equity).
3% including this debt issue and taking into account FASB 115 adjustments.
This translates into a debt-to-total capital (net of FASB 115 adjustments) ratio of a low 9.
Return on equity excluding FASB 115 accounting effect based on net income and operating income was 8.
7 million of shareholders' equity (net of FASB 115 adjustments).
believes that the reduction in value of this investment in WorldCom is an "other than temporary" decline in value under the provisions of FASB 115, and accordingly will be reflected as a loss in the income statement rather than a reduction in market value in accumulated other comprehensive gain.