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Article: MBIA Comments on Issuance of FASB Statement No. 163.
- Article from:
- Business Wire
- Article date:
- May 27, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ARMONK, N.Y. -- MBIA Inc. (NYSE: MBI) issued the following statement in response to the issuance of FASB Statement No. 163, Accounting for Financial Guarantee Insurance Contracts, by the Financial Accounting Standards Board (FASB) on Friday, May 23, 2008, which clarifies how FASB Statement No. 60, Accounting and Reporting for Insurance Enterprises, applies to financial guarantee insurance contracts, including the recognition and measurement of premium revenue and claim liabilities. The Statement also provides for expanded disclosures of financial guarantee insurance contracts. The Statement will be effective for MBIA as of January 1, 2009, with the exception of enhanced ...