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US Mark to Market rules relaxed
StevieJ
Posts: 20,174 Forumite
About time? how can a proper value be established when institutions are so paranoid :cool:
April 2 (Bloomberg) -- The Financial Accounting Standards Board, pressured by U.S. lawmakers and financial companies, voted to relax fair-value rules that Citigroup Inc. and Wells Fargo & Co. say don’t work when markets are inactive.
The changes to so-called mark-to-market accounting allow companies to use “significant” judgment when gauging the price of some investments on their books, including mortgage-backed securities. Analysts say the measure may reduce banks’ writedowns and boost their first-quarter net income by 20 percent or more. FASB voted on the rules at a meeting today in Norwalk, Connecticut.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aoyLUeKiHCho&refer=home
April 2 (Bloomberg) -- The Financial Accounting Standards Board, pressured by U.S. lawmakers and financial companies, voted to relax fair-value rules that Citigroup Inc. and Wells Fargo & Co. say don’t work when markets are inactive.
The changes to so-called mark-to-market accounting allow companies to use “significant” judgment when gauging the price of some investments on their books, including mortgage-backed securities. Analysts say the measure may reduce banks’ writedowns and boost their first-quarter net income by 20 percent or more. FASB voted on the rules at a meeting today in Norwalk, Connecticut.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aoyLUeKiHCho&refer=home
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
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good news!0
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Good to see the regulators are catching up with us on this board...
http://forums.moneysavingexpert.com/showthread.html?t=1228907&highlight=mark+to+marketI think....0 -
Yes we have discussed this few times, normally quite heated :cool:'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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How to revalue an OTC contract ??
A question for the ages !!!!'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
Indeed how! Plenty of debate on this thread
http://forums.moneysavingexpert.com/showthread.html?t=1420667&page=4&highlight=MARK+TO+MARKET+StevieJ'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
so does that mean that the bail outs for the bank debts are actually worth something now and the tax payers have made a profit?0
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so does that mean that the bail outs for the bank debts are actually worth something now and the tax payers have made a profit?
It is magical financial engineering 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Funny how when prices are rising, the market is always right, and when it is falling it is wrong.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
It is not that they are wrong, more they are scared :cool:'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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Sounds like they are going back to their old tricks. I don't really care if it pushes shares up.0
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