Banks slam structured finance accounting change
A revision in the way UK banks have to account for structured credit exposure has caused ripples in the market - at a time when financial institutions are crying out for a period of stability
New accounting guidelines changing the way in which complex structured credit instruments are valued have had a dramatic impact on UK banks' earnings announcements. Coming at a time when investors are easily spooked, the revised guidelines are causing fury in boardrooms across the City.
Bradford & Bingley was the first UK bank to release its quarterly results under the new regulations, which saw
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