FASB says it is still unclear whether the rules should be changed, disclosure requirements increased, or banks forced into stricter compliance with existing rules
US banks are to have their off-balance-sheet vehicles which contributed to more than $150bn (£75.5bn) in writedowns scrutinised by the standard-setter.
The Financial Accounting Standards Board wants to try to determine whether the credit turmoil problems were a result of the accounting rules, the disclosure requirements of banks or the way in which they complied with the rules allowed, Reuters reported.
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