New Bank Accounting Rules Pressed: The Securities...
From Times Staff and Wire Reports
New Bank Accounting Rules Pressed: The Securities and Exchange Commission wants accountants to require banks and thrifts to value their debt securities at market prices--a radical shift in financial reporting. The reform could help avert the sort of financial disaster facing many savings and loans, SEC Chairman Richard C. Breeden said. The move is opposed by banks, which say it would be cumbersome to implement and could cause their earnings to fluctuate excessively.
