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Other

Change of "Market-to-Market" Financial Accounting Rules

Date: 
April 2, 2009
Who: 
Other
Policy Area: 
Financial Sector Policy
Economic Target: 
Financial Institutions
Action Type: 
Regulatory Change

On April 2, 2009, the Financial Accounting Standards Board announced that it would relax fair-value (i.e., "market-to-market") accounting rules that obligated banks to value all assets at the current market price.  New guidelines would give banks greater flexibility in how they value "distressed" assets.

Notes: 

Fiscal and budgetary impacts unknown.

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