FSP FAS 157-3 – Determining the Fair Value of a Financial Asset when the Market for that Asset is Not Active

FSP FAS 157-3 was issued to clarify the application of FAS 157 in a market that is not active and provides an example to illustrate key considerations. This FSP follows the guidance that given in the letter issued by the SEC and the FASB in September 2008.

FSP FAS 140-4 and FIN 46(R)-8, Disclosures by Public Entities (Enterprises) about Transfers of Financial Assets and Interests in Variable Interest Entities.

This FSP was issued to provide additional disclosures about transfers of financial assets and to provide additional disclosures about their involvement with variable interest entities (VIE).