Accounting Standards Update · 2019
ASU 2019-05 — Financial Instruments—Credit Losses (Topic 326)—Targeted Transition Relief
The amendments in this Update provide entities with an option to irrevocably elect the fair value option applied on an instrument-by-instrument basis for certain financial assets upon the adoption of Topic 326.
The fair value option election does not apply to held-to-maturity debt securities.
This Accounting Standards Update is the final version of Proposed Accounting Standards Update 2019-100—Targeted Transition Relief for Topic 326, Financial Instruments—Credit Losses, which has been deleted.
Issued: May 15, 2019
Text as published in the FASB Accounting Standards Codification, Basic View.