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

Maya MacGuineas — Mon, 17 Aug 2009 13:58:39 +0000

Date:

April 2, 2009

Who:

Other

Policy Area:

Financial Sector Policy

Economic Target:

Financial Institutions

Action Type:

Regulatory Change

Maximum Amount Special Symbol:

Amount Spent Special Symbol:

Deficit Impact Special Symbol:

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.

Source:

FASB Meeting Report 4/2/2009

Notes:

Fiscal and budgetary impacts unknown.

Is not a top-level node

Stimulus.org - Other

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