Derivatives Implementation Group
Summary of October 3,
2001 Board Meeting Discussion on Statement 133 Implementation
Issues
Open Discussion: The Board did not object to
the staff's recommendation to revise the effective date of
Statement 133 Implementation Issue No. C16, "Applying the Normal
Purchases and Normal Sales Exception to Contracts That Combine a
Forward Contract and a Purchased Option Contract," to be the first
day of the second fiscal quarter beginning after October 10, 2001,
the date that Implementation Issue C16 will be posted on the
website. Thus, for an entity whose fiscal year-end coincides with
the end of a calendar quarter, the effective date of Implementation
Issue C16 has been deferred to April 1, 2002.
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