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10:02 Oct 18, 2002
English to Polish translations [PRO] Bus/Financial / insurance accounting
English term or phrase:beneficial interest
Gains or losses on securitizations are determined with reference to the carrying amount of the financial assets transferred, which is allocated to the assets sold and the beneficial interests retained based on relative fair values at the date of transfer.
Beneficial interests in securitizations are carried at fair value in fixed maturities.
Income on the beneficial interests is recognized using the prospective method in accordance with Emerging Issues Task Force ("EITF'') Issue No. 99-20.