National News

FASB backs away from mark-to-market for loans

The Financial Accounting Standards Board has backed off from its proposal to require banks to use mark-to-market accounting on loans. FASB’s fair value accounting approach was proposed last May for banks and other businesses, and nearly 3,000 people sent FASB comment letters saying mark-to-market rules are not appropriate for long-term bank loans. Many said accounting treatment should accommodate a company’s business model, not force it to change. On Jan. 25, FASB acknowledged that amortized cost is . . .

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