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In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which provides guidance in the recognition and measurement of debt and equity securities. That guidance is now effective for calendar year-end public business entities and will be effective for other entities in annual reporting period beginning after December 15, 2018. See LI 13.2 for additional information on the effective dates of the Recognition and Measurement standard. The recognition and measurement guidance in this section is only applicable to those entities that have not yet adopted the guidance in ASU 2016-01; the impairment guidance is still applicable to all entities (unless they have early adopted the guidance in ASU 2016-13). Reporting entities that have adopted the guidance in ASU 2016-01 should refer to PwC's Loans and investments guide for information.
The FASB issued ASU 2016-13, Credit Losses: Measurement of Credit Losses on Financial Instruments in June 2016. That standard is effective beginning in 2020. See LI 13.1 for additional information on the effective dates of the Credit Loss standard. The guidance in this section regarding the impairment of debt and equity securities remains applicable until an entity adopts the new guidance in ASU 2016-13. Reporting entities that have early adopted the guidance in ASU 2016-13 should refer to PwC's Loans and investments guide.
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