Banks say they want the new standard in place
European banks will have to wait to adopt a new contentious accounting rule released yesterday in the wake of the crisis, which banks fear will make them uncompetitive.
European finance ministers have spent the past twelve months piling pressure on the International Accounting Standards Board to hasten the release of a new accounting rule to value and measure assets.
Yesterday’s release of the new standard was met with delays from Brussels which will study the new standard before it considers adoption, The Financial Times reports.
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