Fasb accounting rule angers banks


US investment banks are up in arms over a new accounting rule that would change the way banks and insurance companies account for losses on fixed-income portfolios. The new rule would force portfolio managers to write down their earnings to take into account portfolio losses, unless they can prove that they can and will hold onto underperforming securities until they recover.

At least 235 financial institutions have written to the Financial Accounting Standards Board (Fasb), the US accounting

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here