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Standard & Poor's Ratings Services Comments On Joint FASB/IASB Proposal On Balance-Sheet Offsetting
Standard & Poors, May 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Standard & Poor's Ratings Services appreciates the opportunity to provide the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) (collectively, the Boards), our comments on the Boards' Proposed Accounting Standards Update, Balance Sheet (Topic 210) Offsetting. We continue to support international harmonization of accounting standards and believe a common set of high quality and consistently enforced accounting standards would best facilitate efficient global capital markets. We support the Boards' objective to harmonize their respective standards in the area of balance sheet offsetting, and generally the proposed offsetting criteria. However, we believe the Proposed Standard would result in greater gross presentation for certain financial assets and financial liabilities for which we believe a net presentation is more...