10/17/2008

Japanese Finance Minister Shoichi Nakagawa said the nation's mark-to-market accounting regulations should be revised "if the current situation might cause systemic risk." Critics of the rules said they force firms to report losses that are not expected to happen, exacerbating the slump in global markets. A banking analyst at UBS said junking fair-value accounting could create a "black box" and hide possible losses from investors, creating even greater fears.

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