Credit card securities dry up on accounting-rule changes

11/10/2009 | Wall Street Journal, The · EasyBourse

Revised accounting rules have hit the market for bonds backed by consumers' credit card debt. The rules put bondholders' rights into question when the financial institution that issues the securities goes into receivership. The accounting changes give regulators the right to claim the assets. The Federal Deposit Insurance Corp. is set to discuss the situation this week.

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Wall Street Journal, The · EasyBourse

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