The frenzy over FASB 65 seems to be settling down a bit. Nobody is quite happy over the entire proposal to revise the rule, but most lenders appear ready to accept compromises in order to avert what they see as its bigger defects and to avoid long delays.

There is one group, though, that is quite happy about the broad proposal and not much concerned about the details. Consultants who advise lenders on hedging strategies see a business opportunity.

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