New Risk Disclosures Proposed by FASB Will Cause Confusion, Lenders Contend
October 5, 2012
A proposal by the Financial Accounting Standards Board to require disclosure of liquidity and interest rate risk is unnecessary, costly and will cause confusion, according to industry participants. FASB proposed the Accounting Standards Update in June in an effort to increase disclosure of risks that led to problems in the mortgage market and beyond in 2008. FASB noted that liquidity risk and interest rate risk were prominent during the recent financial crisis and continue to be relevant to ...