associated with changes in interest rates, foreign currency exchange rates, com- modity prices, and stock prices. The information should indicate the market risk a company faces as well as how the company’s management views and man- ages its market risk. This amendment was issued in response to the large de- rivative losses that were incurred by companies in the early 1990s, such as Showa Shell Sekiya’s $1.5 billion loss on currency derivatives, Procter and Gamble’s $157 million loss on leveraged currency swaps and Arco’s employee earnings loss of $22 million on money market derivatives.