FAS 133: routine or ruinous?

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Two years ago, many predicted that the US Financial Accounting Standards Board’s (FASB) much-criticised derivatives accounting rule – FAS 133 – would force companies to slash their use of derivatives. But a survey of 175 corporates with revenues of between $1 billion and $5 billion, released this month, shows that most have not done so. However, corporate use of exotic hedging tools – the instruments most adversely affected by the rule – remains minimal.

The Maryland-based Association of Finance

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