In the hope of assisting with the process of pushing TARP bailout funds into the lending market and the hands of borrowers, the FASB convened on Monday, March 16 to consider proposals for reducing the restrictive mark to market rules on valuation of long term assets. FASB hopes to provide a new final guidance on these issues before first quarter results are due to be reported. The proposal would give accountants greater discretion in deciding whether or not impairment of an asset is temporary, and whether the institution intends to hold the troubled asset to maturity. Details of the staff handout to FASB at the Monday meeting can be found here:
http://www.fasb.org/board_handouts/03-16-09.pdf
The mark to market handout is the second one in the .pdf under this link.
http://www.fasb.org/board_handouts/03-16-09.pdf
The mark to market handout is the second one in the .pdf under this link.
