Global Bank Regulators Want Unified Loan Loss Accounting

Law360, New York (January 4, 2013, 3:05 PM EST) -- The Basel Committee on Banking Supervision is pushing for the harmonization of U.S. and international accounting treatments for banks' loan loss reserves, according to a letter released Friday.

In a letter dated Dec. 21, Stefan Ingves, chairman of the global regulatory panel, told the chairmen of the U.S. Financial Accounting Standards Board and the International Accounting Standards Board that regulators around the world were concerned the boards had moved in different directions in developing rules for how banks calculate the amount of money they have to...
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