The Clearing House Association submitted a comment letter to the FASB on its classification and measurement proposal, recommending that the Board not proceed with the proposal and instead maintain the existing U.S. accounting model. While TCH supports classifying financial instruments based on the framework of an entity’s business model as well as the cash flow characteristics of the financial instruments, TCH believes the proposal does not improve existing U.S. GAAP. However, a few of TCH’s FBO Owners generally support the proposal, as it would more closely align U.S. GAAP with the proposed IASB model.