The board that sets U.S. accounting standards on Thursday gave companies more leeway when valuing assets, providing a potential boost to battered banks' balance sheets.
The independent Financial Accounting Standards Board voted to adopt new guidelines under the so-called mark-to-market accounting rules, which require companies to value assets at prices reflecting current market conditions. Will the New FASB Guidelines Be Successful? Let us know:
- Banks Given More Leeway In How They Value Toxic Assets
- Treasury's Bad-Debt Plan In Doubt
- Pisani: New FASB Rules
- For Banks, New Rules May Be 'Double-Edged Sword'