Statement 72 addresses the accounting for certain acquisitions of banking or thrift institutions. According to that Statement, the excess (referred to as the "unidentifiable intangible asset") of the fair value of liabilities assumed over the fair value of assets acquired, including identified intangibles, shall be amortized to expense using the interest method over a period no greater than the estimated remaining life of the long-term interest-bearing assets acquired. Some recent acquisitions of savings and loan associations have resulted in a situation in which the total amount of the unidentifiable intangible asset arising from the acquisition has exceeded the discount on the acquired long-term interest-bearing assets (due to the payment of cash or a preexisting deficit in the savings and loan association). The issue is whether the unidentifiable intangible assets acquired should be amortized in accordance with Statement 72 or whether the unidentifiable intangible assets in excess of the discount on long-term interest-bearing assets should be amortized as prescribed under Opinio
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