105 105 105 105 IFRS 105 IFRS IFRS IFRS E-mail: tomohiro.shigemoto@boj.or.jp / /2011.8 73
1. 2008 9 15 1 11 11 2 AntonR.Valukas 3 United States Bankruptcy Court Southern District of New York [2010] 4 105 5 105 105 105 105 MD&A SEC FASB 1 2 1104 U.S. Trustee http:// www.uscourts.gov/federalcourts/bankruptcy/bankruptcybasics/chapter11.aspx 3 Jenner & Block 4 2010 3 11 5 105 105% 108% 108 105 105 SEC American International Group AIG Citigroup Bank of America BOA 35 74 /2011.8
SEC 105 IFRS 6 105 IFRS 2 3 105 4 105 FASB SEC 7 5 IFRS 6 7 2. 1 8 IT 2003 2007 6IFRS IASB IASC IAS IAS IASB IAS IFRS 7 2011 4 20 8 2008a, b 75
1 2007 2007 7 Standard & Poor s Moody s 2008 9 2 1 10 11 12 13 Richard S. Fuld Jr. 14 9 ABCP 10 = III = 11 800 801 806 12 13 14 44 45 76 /2011.8
1 3 1 3 % 2 2007 2008 4,192 2,285 2007 2008 30.7 24.3 32.4 35.8 2007 2008 10.2 11.5 11,599 3,598 26.2 24.3 6.8 8.1 3,209 2,577 32.6 25.1 15.4 12.3 1 105 2 3 = SEC 15 1 2007 42 2008 GS MS 23 16 GS MS 105 3 17 105 105 105 2 2008 1 2 500 15 43 16 1 GS = MS = D MS 2 804 805 D = D C 3 17 3 SFAS 157 par. 30 77
2 105 891 17 36 37 108 3 105 889 105 3 105 78 /2011.8
105 3. 105 SFAS 140 derecognition SFAS 140 105 105 SFAS 140 105 1 SFAS 140 SFAS 140 par. 11 3 SFAS 140 par. 9 3 SFAS 140 A: Implementation Guidance 18 SFAS 140 pars. 12, 15. 1 SFAS 140 par. 9a true sale 18 A SFAS 140 par. 18 79
SFAS 140 par. 27 19. 2 SFAS 140 par. 9b SFAS 140 par. 29 SFAS 140 par. 30. 3 20 21 SFAS 140 par. 9c SFAS 140 A SFAS 140 par. 47 a. b. 19 PCAOB The Use of Legal Interpretations as Evidential Matter to Support Management s Assertion That a Transfer of Financial Assets Has Met the Isolation Criteria in Paragraph 9 (a) of Statement of Financial Accounting Standards No. 140 20 SFAS 140 par. 50 21 80 /2011.8
SFAS 140 par. 49 c. d. SFAS 140 B: Background Information and Basis for Conclusions 22 par. 218 b. b. ffl = 98% = 102% ffl ffl 2 105 1 105 23 105 105 24 105 Lehman Brothers International (Europe): LBIE 25 26 2 22 B SFAS 140 FASB A 23 770 24 105 7 10 25 105 LBIE LBIE LBIE LBIE 105 26 2007 2008 2% 767 105 5% 81
105 1 3 105 1. 105 Herz [2010]. 105. 1 105 = 98% 5% = 95% SFAS 140 par. 49 par. 218 105 3 105 2 105 82 /2011.8
105 105 27 28 2006 3 colorable claims 29 30. 31 105 32 33. SEC MD&A 105 4 34 27 28 29 990 30 Ernst & Young: E&Y 105 MD&A 105 1032 1033 2010 12 21 E&Y 2001 08 31 APB Accounting Principles Board 22 32 974 975 978 979 33 977 34 967 969 972 83
4 105 ffl 105 ffl 105 ffl 105 105 4 105 4. SEC FASB SEC FASB SEC FASB 2010 SEC FASB SEC FASB 5 1 SEC SEC 2010 4 20 SEC 105 35 35 SEC 2010 3 24 AIG Citigroup BOA 3 ffl AIG 2008 ffl Citigroup 84 /2011.8
5 SEC FASB 2010 3 11 4 19 4 20 8 6 9 17 11 3 FASB SFAS 140 FASB SEC 6 SEC SEC 2010 11 29 FASB 860 2011 1 15 2010 8 6 SEC 36 SEC 9 6 MD&A 37 105 ffl BOA 36 SEC FASB FASB 1 Tier I = 37 MD&A 85
6 SEC ffl ffl ffl ffl ffl ffl ffl 2 FASB FASB 2010 4 20 4 19 Ranking Minority Member FASB FASB FASB Herz [2010] ffl 105 ffl = 98% SFAS 140 B par. 218 3 1 B bright line ffl SEC 2010 3 38 ffl IASB IASB 2009 3 IASB IASB 39 38 35 39 IASB 2010 2010 6 IASB FASB 3 2010 10 IFRS 7 5 2 2011 2 86 /2011.8
FASB 2010 11 860 1 SFAS 140 par. 47b FASB-ASC 40 860-10-40-55 c 1 b SFAS 140 par. 47b 105 = 98% = 102% SFAS 140 par. 218 FASB-ASC 860-10-55-37 FASB SFAS 140 par. 47b IFRS IAS 39 IFRS FASB 105 1 5. IFRS 105 IFRS FASB SEC IFRS IAS 39 45 40 FASB 2009 7 The FASB Accounting Standards Codification TM FASB- ASC 2009 9 15 FASB-ASC 87
IFRS 7 IASB 2010 10 IFRS 7 IASB 1 IAS 39 IFRS principle-based 41 rule-based IAS 39 FASB-ASC 860-10-55-37 IAS 39 par. 20 ffl ffl 42 43 41 SEC [2003] IASB 2010 7 IFRS 6 IASB SEC IASB SEC IASB 105 IASB 42 IAS 39 90% 10% Apar.AG52 43 88 /2011.8
IAS 39 A 44 par. AG 51a c par. AG 51d IAS 39 45 IAS 39 IAS 39 105 2 IFRS 7 2010 10 IFRS 7 IFRS 7 par. 13 46 IASB 2010 10 IFRS 7 IFRS 7 IFRS 7 par. 42E 47 44 IAS 39 A 45 IASB IAS 39 2009 3 IAS 39 2010 6 IASB FASB IAS 39 2009 46 IFRS 7 par. 13 a. b. c. d. e. f. IFRS 7 par. 42D 47 89
7 â a. b. c. d. e. f. g. h. 3 IFRS 7 1 IAS 39 2 IFRS IAS 1 IAS 1 pars. 117 124 4 1 SEC 4 IFRS 7 IASB IAS 39 IFRS 7 1 IAS 39 IASB IFRS IASB IFRS 7 IAS 39 105 90 /2011.8
IASB IFRS 7 6. IFRS 2011 IFRS 2012 IFRS IFRS SEC IFRS 91
7. 105 105 FASB SEC 105 105 IFRS 105 AAA [2003] 92 /2011.8
2008 1 2008 a 2008 7 2008 b IASB 98 100 21 12 2009 59 68 American Accounting Association (AAA) Financial Accounting Standards Committee, Evaluating Concepts-Based vs. Rule-Based Approaches to Standard Setting, Accounting Horizons, 17 (1), AAA, 2003, pp. 73 89. Herz, Robert H., Re: Discussion of Selected Accounting Guidance Relevant to Lehman Accounting Practices, FASB, 2010. United States Bankruptcy Court Southern District of New York, Report of Anton R. Valukas, Examiner, United States Bankruptcy Court Southern District of New York, 2010. U.S. Securities and Exchange Commission (SEC), Study Pursuant to Section 108 (d) of the Sarbanes-Oxley Act of 2002 on the Adoption by the United States Financial Reporting System of a Principles-Based Accounting System, SEC, 2003. 93
94 /2011.8