Statutory Accounting Principles Working Group (SAPWG) adopted the following guidance:
- SSAP No. 103R to add disclosures about transfers of financial assets accounted for as a sale when the transferor maintains continuing involvement in the transferred financial assets.
- INT 20-01 to adopt ASU 2021-01 and allow an optional temporary expedient to continue the existing hedging relationship in certain circumstances. This guidance will expire December 31, 2022.
- INT 21-01 to clarify that cryptocurrencies are nonadmitted assets.
The SAPWG exposed revisions to the following guidance:
- A principles-based definition of a bond eligible for reporting on Schedule D-1.