In the weeks preceding Wednesday's decision by the Financial Accounting Standards Board to postpone changes to accounting rules for securitizations, attention tended to focus on the changes' ramifications for Fannie Mae and Freddie Mac.
But observers say the changes, if and when they are adopted, could have more of an impact on credit card businesses than they would on mortgage operations.
The changes being contemplated by FASB could lead financial institutions that securitize loans to take billions of dollars of assets back onto their balance sheets. The rulemaking body said a narrowing window to complete the process under the existing timetable was among the reasons for the delay.
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