The FASB Board discussed public comments on its project to require additional disclosures for off-balance-sheet transactions, giving its staff approval to draft the final version, when the Board met for its weekly meeting on November 12, 2008, at its Norwalk, CT headquarters.

The Board authorized its research staff to incorporate certain modifications to FASB Staff Proposal (FSP) No. FAS 140-e and FIN 46(R)-e, Disclosures about Transfers of Financial Assets and Interests in Variable Interest Entities. The staff estimated that these changes could be made and brought to the Board the final week of November. They anticipated that the guidance will be issued on December 15, 2008.

The FASB staff had tried to integrate some of the public feedback into the recommended changes they proposed to the Board, some of which were approved, while others were met with skepticism.