NY state senator convicted in foreclosure embezzlement scheme

NY state senator convicted in foreclosure embezzlement scheme

Pay-offs, fraud and bribery marked Democrat senator’s tenure

Weiss Residential: Nearly half of homes in top markets losing value

"Here's where the next housing crash will start"

Small Texas bank winning big fight against CFPB

Court of Appeals upholds bank’s challenge to regulator
W S
Investments / The Ticker

Non-U.S. banks up rules on bad loans

IASB overhauls finance-accounting rules

judge 1

Taking a step outside of the U.S., European banks and other non-U.S. banks will have to record losses on bad loans more quickly and set aside more reserves for loan losses under an overhaul of finance-accounting rules that global rule makers made final on Thursday, an article in The Wall Street Journal said.    

Under the new standard, non-U.S. banks will have to book loan losses based on their expectation that future losses will occur, beginning in 2018. That is expected to speed up the booking of losses and require greater loan-loss reserves.

The move by the London-based International Accounting Standards Board, which has been in the works for years, could create a conundrum for the banking industry: Because U.S. and global rule makers haven't been able to agree on the same accounting approach for writing off bad loans, it could become more difficult to compare U.S. banks and those outside the U.S.

Source: WSJ
Read full story

Recent Articles by Brena Swanson

Comments powered by Disqus