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Abstract
The objective of FSP EITF 99-20-1 is to amend the guidance in EITF Issue No. 99-20, Recognition of Interest Income and Impairment on Purchased Beneficial Interests and Beneficial Interests That Continue to Be Held by a Transferor in Securitized Financial Assets, to help users in determining whether an other-than-temporary impairment of a debt security has occurred. The objective of an evaluation is to determine whether it is probable that the holder will realize some part of an unrealized loss on an impaired security. The fact that all of the scheduled payments to date have been received should not lead to an automatic conclusion that a security is not other-than-temporarily impaired. A holder of a security evaluating whether an impairment is other than temporary should consider all relevant information regarding whether cash flows from a security are collectible.