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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (167742)	5/23/2002 9:36:32 AM
From: Les H	Read Replies (1) \| Respond to of 436258

New FASB Rules Carve Out Exceptions Freddie Mac and other issuers of asset-backed securities will be allowed to keep some obligations off their books under an exemption to new rules intended to restrict the use of special-purpose entities like those that helped Enron mask much of its debt. The Financial Accounting Standards Board is under pressure from lawmakers and regulators to limit the use of special-purpose entities but was concerned the rules may disrupt the asset-backed securities industry, FASB Chairman Edmund L. Jenkins said. FASB to exclude most securitization SPEs from consolidation nj.com