'There is a view that [to apply] new techniques, or greater flexibility, in current circumstances would be fraught with difficulties.' - IIF
The global banking alliance which called for a relaxation of fair value rules has clarified its position on the standard after it caused a stir among some of its members.
The Institute of International Finance, which represents the world's leading banks, this week said: 'There is a view that [to apply] new techniques, or greater flexibility, in current circumstances would be fraught with difficulties.'
The IIF had earlier claimed in a paper – sent to governments and regulators – that taking prices in illiquid markets 'results in valuations that do not provide a true picture of the financial positions of the firms'.
See full Article.
Posts
