We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Congress Asked To Revisit Mark-To-Market System

Law360 (May 14, 2009, 12:00 AM EDT) -- A coalition of banking and insurance organizations has urged Congress to rethink mark-to-market accounting and impairment rules, even though the Financial Accounting Standards Board made several revisions in April.

In a letter Wednesday to the U.S. House of Representatives Financial Services Committee, five industry trade groups — including the American Bankers Association and the Financial Services Roundtable — raised questions about the true relevance of mark-to-market accounting for the banking system or insurance companies, arguing that it does not provide the best measurement for many types...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.