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FASB Releases FAS 156:
Accounting for Servicing of Financial Assets
FASB Releases FAS 156: Accounting for Servicing of Financial Assets
March 17, 2006
FEI Summary
On March 17, 2006, the Financial Accounting Standards Board (FASB) issued FASB Statement of Financial Accounting Standards No. 156, "Accounting for Servicing of Financial Assets - an Amendment of FASB Statement 140" ("FAS 156"). Further information is provided by FASB in a related news release in which FASB describes FAS 156 as "simplifying accounting for separately recognized servicing assets and liabilities."
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