Banks outside the US would have to report expected losses on their lending much earlier, under proposals published on Thursday by the International Accounting Standards Board. The plans represent a virtual U-turn from the current system and would allow banks to provide for expected losses over the duration of a loan, rather than, as now, waiting until the losses have occurred – a practice blamed for adding to banks’ accounting burden.

This entry was posted by Gwen Robinson on Friday, November 6th, 2009 at 4:44 and is filed under Capital markets. Tagged with IASB. Edit this entry.