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Mark-to-Market Accounting Hits IO Impairment

In accordance with the Emerging Issues Task Force's EITF 99-20, starting first quarter 2001, new accounting guidelines will impact the recognition of interest income on credit- and prepayment-sensitive securitized assets, usually associated with residuals and interest-only strips.

Further, a semi-controversial impairment accounting provision, which takes into effect factors such...

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