AUTOREFRESH 
Say goodbye to mark-to-market accounting
By admin || October 8, 2008 at 16:37 GMT
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The one upshot of this weekend’s G7 meeting looks like it will be the suspension of mark-to-market accounting. Banks would be able to halt markdowns on their books for illiquid assets, the source of most of the losses over the last year and a half. It doesn’t change the reality of these assets plunging in value but it does allow the banks to hang onto some of their distressed assets rather than sell them into illiquid markets. Some see this as the biggest fundamental shift regulators can make in the short-term. EU officials are making that proposal and there a section of the TARP package dealt with mark-to-market…
Have a dry weekend all 
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