Bankers scrutinize FASB's proposed rules for financial instruments

06/3/2010 |

The Financial Accounting Standards Board recently proposed new rules for accounting for financial instruments, prompting almost immediate scrutiny from the banking industry. Bankers are raising questions about the logic of the proposals, particularly a requirement to mark-to-market value plain-vanilla loans held for collection. Industry insiders say that the unintended consequences of the measures include increasing procyclicality in the system.

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