SEC, FASB Try to Clarify Fair-Value Accounting in Context of Illiquid Markets
October 2, 2008
Industry groups were pleased that standards-setters in the accounting world this week offered new guidance designed to ease some of the pain of holding illiquid MBS and ABS in portfolio, but observers question whether the new rules will lubricate trading. The Securities and Exchange Commission this week released guidance that allows companies to rely more on their own cash flow...