Go to Source
Author:
In our comment letter, we supported the FASB’s proposal to allow entities to make an irrevocable one-time election upon adoption of the new credit losses standard to measure certain financial assets measured at amortized cost using the fair value option. We recommended that the Board also consider providing entities with an option to transfer securities from the held-to-maturity category to the available-for-sale or trading category upon adoption of the new standard.