FDIC reveals impact of securitisation rule change

US banks saw their assets grow by $248.6 billion in the first quarter of the year, after new accounting rules compelled them to bring hundreds of billions of dollars worth of securitised loans back on balance sheet. According to data collected by the Federal Deposit Insurance Corporation (FDIC), "total assets reported by insured institutions were $248.6 billion (1.9%) higher than at the end of 2009, but this was entirely due to a $294.9 billion (69.9%) increase in credit card loans caused by