The Financial Accounting Standards Board ("FASB" or "Board") discussed whether conversion options embedded in convertible debt instruments (where the principal of the debt is denominated in a currency different than the listing currency of the underlying stock) are considered dual indexed for the purposes of applying FASB Statement No. 133, Accounting for Derivative Instruments and Hedging Activities ("SFAS 133").
The discussions focused on whether the embedded conversion options are indexed to both an entity's own stock price and foreign currency exchange rates.
