EBF and Business Europe urge fair value changes
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:
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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).