Mortgage lenders fret over FASB hedging proposals
Banks and derivatives end-users worry they will find it harder to hedge if a bumper package of US accounting reform proposals is implemented. The exposure draft, published on May 26, is the first attempt by the Financial Accounting Standards Board (FASB) to rewrite the rules for financial instruments and touches on a host of topics that are close to the banking industry's heart. Among them are loan loss provisioning and hedge accounting - the latter of which is prompting squawks of alarm from
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