FASB set to collide with supervisors over fair value
The Connecticut-based Financial Accounting Standards Board (FASB) is due to propose an extension of fair value for all financial instruments, flying in the face of supervisors’ concerns about the cyclicality of fair-value accounting.
“We’re extending fair value accounting to all financial instruments, including loans,” says FASB chairman Bob Herz, in an exclusive interview with Risk. The proposal – due at the end of March – comes as many supervisors seek a more counter-cyclical approach both to
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