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FASB & EITF UPDATE Financial Reporting Update October 21, 2004 - page 22 / 47

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New! EITF Consensus Effective in 2004

 Issue 03 --1 Step 2

 -  Evaluate whether an impairment is other than temporary

   For ordinary debt securities, an impairment is deemed other than temporary if

Investor does not have ability and intent to hold for a reasonable period of time sufficient for recovery of fair value, and

It is probable that the investor will be unable to collect all contractual amounts due

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