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EBF and Business Europe urge fair value changes

  • European Union (old) Image

14 Oct 2008

The European Banking Federation and Business Europe have issued a Joint Statement on Financial Market Turmoil.

One of the recommendations in the statement relates to fair value measurements:

The pro-cyclical nature of fair value measurement of financial assets appears to have worsened the impact of the crisis on financial and non-financial corporations. It is vital that accounting standard-setters take up the issue and seriously consider amending fair value accounting rules for assets in markets where liquidity suddenly disappears.

Click to view Joint Statement on Financial Market Turmoil (PDF 193k).

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