Accounting rule change undermines US banks

Accounting rule change undermines US banks. Robert Pozen, June 30, 2013, Opinion. "While the International Accounting Standards Board sets the rules for public companies in most countries, the Financial Accounting Standards Board sets the rules for public companies in the US. Yet, despite their efforts to co-ordinate, the IASB and FASB have proposed different rules for an important subject – how banks should decide when to expand their reserves against loan losses. We agree that the current rules on loan loss reserves for banks are too narrow and should be changed..."  May require purchase or user account. Link verified March 28, 2014