Industry divided over MTM accounting
WASHINGTON, DC - Senior bankers have expressed reservations at the proposed scrapping of mark-to-market (MTM) accounting rules in the US, as a congressional hearing held last Thursday revealed deep industry divisions over the rule.
The US congress' House Financial Services subcommittee that overlooks capital markets, held a hearing on March 12 to examine MTM accounting, which some market participants have accused of exacerbating financial market turbulence. The rules require banks to value
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