GASB Statement No. 53, Accounting and Financial Reporting for Derivative Instruments

• IRM 53.1 Overview of the Statement and UC's Approach to Implementation (Updated: March 23, 2010)
  • The February 11, 2010 update includes minor corrections and changes throughout the document, new Exhibit 8 and the deletion of Exhibits 9 and 10. The March 23, 2010 update includes changes to Exhibits 3 and 6.
  • 2009 Derivative Inventory Excel document as of February 11, 2010
  • Excel templates to be completed:
    • Exhibit 2 Template: Initial Year GASB Statement No. 53 Evaluation Checklist Excel document as of February 11, 2010
    • Exhibit 4 Template: Subsequent Year GASB Statement No. 53 Evaluation Checklist Excel document as of February 11, 2010
    • Exhibit 8 Template: Inventory of Derivative Contracts at Campuses Excel document as of February 11, 2010
    • Exhibit 8 Template: Inventory of Derivative Contracts at Foundations Excel document as of February 11, 2010

• IRM 53.2 Assessing Whether the University's Energy Contracts are Derivative Instruments Subject to the Disclosure Requirements of GASB Statement No. 53 (Issued: February 12, 2010)
  • Exhibit A Evaluation Checklist for Natural Gas-General Procurement Pools for June 30, 2009
  • Exhibit B Evaluation Checklist for Natural Gas-Special Purchase Agreements for June 30, 2009
  • Exhibit C Evaluation Checklist for Direct Access Services Agreement-Electricity for June 30, 2009
  • Evaluation Checklist Template for Natural Gas Contracts Excel document as of February 12, 2010
  • Evaluation Checklist Template for Electricity Contracts Excel document as of February 12, 2010

• IRM 53.3 Assessing Whether the University's Repurchase Agreements are Derivative Instruments Subject to the Disclosure Requirements of GASB Statement No. 53 (Issued: February 12, 2010)
  • Exhibit A Evaluation Checklist for Securities Lending Repurchase Agreements for June 30, 2009
  • Evaluation Checklist Template for Repurchase Agreements Excel document as of February 12, 2010

• IRM 53.4 Assessing Whether the University's Guaranteed Investment Contracts (GICs) are Derivative Instruments Subject to the Disclosure Requirements of GASB Statement No. 53 (Issued: February 13, 2010)
  • 2009 GIC List State Street GIC Holdings List at June 30, 2009
  • Exhibit A Evaluation Checklist for GIC-Hartford Insurance Company for June 30, 2009
  • Exhibit B Evaluation Checklist for GIC-Met Life Insurance Company for June 30, 2009
  • Exhibit C Evaluation Checklist for GIC-Aegon Institutional Markets (Transamerica) for June 30, 2009
  • Exhibit D Evaluation Checklist for GIC-Aegon Institutional Markets (Monumental) for June 30, 2009
  • Exhibit E Evaluation Checklist for GIC-Principal Financial Group for June 30, 2009
  • Exhibit F Evaluation Checklist for GIC-Prudential Financial for June 30, 2009
  • Exhibit G Evaluation Checklist for GIC-New York Life Insurance Company for June 30, 2009
  • Evaluation Checklist Template for GICs Excel document as of February 13, 2010

• IRM 53.5 Assessing Whether the University’s Foreign Currency Exchange Contracts are Investment Derivatives or Hedging Derivatives (Issued: February 13, 2010)
  • 2009 Foreign Currency Exchange Contracts Inventory at June 30, 2009
  • Exhibit A Evaluation Checklist for Foreign Currency Exchange Contracts, Internal Investment Pools for June 30, 2009
  • Exhibit B Evaluation Checklist for Foreign Currency Exchange Contracts, Agent Internal Investment Pools for June 30, 2009
  • Evaluation Checklist Template for Foreign Currency Exchange Contracts, Internal Investment Pools Excel document as of March 11, 2010
  • Evaluation Checklist Template for Foreign Currency Exchange Contracts, Agent Internal Investment Pools Excel document as of March 11, 2010

• IRM 53.6 Assessing Whether the University’s Futures Contracts are Investment Derivatives or Hedging Derivatives (Issued: February 13, 2010)
  • 2009 Futures Contracts Inventory at June 30, 2009
  • Exhibit A Evaluation Checklist for Futures Contracts Held in Internal Investment Pools for June 30, 2009
  • Exhibit B Evaluation Checklist for Futures Contracts Held in Agent Internal Investment Pools for June 30, 2009
  • Evaluation Checklist Template for Futures Contracts, Internal Investment Pools Excel document as of March 24, 2010
  • Evaluation Checklist Template for Futures Contracts, Agent Internal Investment Pools Excel document as of March 24, 2010

• IRM 53.7 Assessing Whether the University’s TBAs (When, As and If Issued Contracts or To be Announced) are Investment Derivatives or Hedging Derivatives (Updated: April 13, 2010)
  • 2009 TBA Trades Inventory at June 30, 2009
  • Exhibit A Evaluation Checklist for TBAs Held in Internal Investment Pools for June 30, 2009
  • Exhibit B Evaluation Checklist for TBAs Held in Agent Internal Investment Pools for June 30, 2009
  • Evaluation Checklist Template for TBAs, Internal Investment Pools Excel document as of February 25, 2010
  • Evaluation Checklist Template for TBAs, Agent Internal Investment Pools Excel document as of February 25, 2010 

• IRM 53.10 Assessing Custodial Credit Risk for Exchange-Traded Futures or Foreign Currency Exchange Contracts (Updated: April 14, 2010)
  • The April 14, 2010 update modifies the discussion in the section titled, Custodial Credit Risk Associated with Exchange Traded Derivative Instruments Owned by the University, on page 4. 

• IRM 53.11 Interest Rate Swap—Determining Whether Using the Consistent Critical Terms Method for Concluding on Effectiveness is Acceptable for the Deutsche Swaps (Reissued: February 26, 2010)
  • Exhibit A Evaluation Checklist for UCLAMC Interest Rate Swap: Hedgeable Item is 2007C-2 MC Revenue Bonds, Deutsche Bank Counterparty for June 30, 2009

Note: This was originally issued as IRM 53.1 on August 17, 2009. The numbering convention was changed and this IRM was reissued as IRM 53.11 on February 26, 2010.