The Financial Accounting Standards Board and the International Accounting Standards Board are once again coming under pressure not to tighten up the loose standards for banks that helped lead to the financial crisis.
The American Bankers Association has written to Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke asking them to make sure the standard-setters dont follow through with plans to expand fair value accounting to loans and debt securities, saying that would go against the G-20 leaders wishes (see
Floyd Norris of The New York Times has written an insightful