Banks face new accounting rules, after the FASB and IASB jointly call for banks to anticipate...

|By:, SA News Editor
Banks face new accounting rules, after the FASB and IASB jointly call for banks to anticipate losses earlier, leaving more time to plug financial holes. Banks call the rules overly-complex, but the boards want to avoid a repeat of the financial crisis when loan-loss recognition came 'too little, too late.'