Новости

Russia wants to allow its regions to borrow abroad

A new law project has been added for the State Duma’s consideration. The government wants to allow regions of Russia to place bonds on foreign markets.

PCFRC Eyes Global Standards for Small Business

The Private Company Financial Reporting Committee took a close look at the International Accounting Standards Board’s new “IFRS for SMEs” standards at its meeting last week. The committee, a joint effort of the Financial Accounting Standards Board and the American Institute of CPAs, spent the bulk of the two-day meeting examining the IASB’s stripped-down set of International Financial Reporting Standards for Small and Midsized Entities.

ASB seeks views on proposals for the future reporting requirements for UK and Irish entities

The Accounting Standards Board has today issued a consultation paper “Policy Proposal: the future of UK GAAP”, which sets out its proposals for the future reporting requirements for UK and Irish entities.

Fannie Mae and Freddy Mac rearranged

Two largest and most influential players of the mortgage market in the US are awaiting dramatic restructuring: the government wants to draw their “bad assets” to the “Bad Bank”. The same path is followed by Citigroup. The plan to save FM&FM is being developed by Obama’s administration. The “Bad Bank” will be engaged into reorganization of those assets acquired.

No “second waves” of the crisis for Ukraine - IMF

The International Monetary Fund (IMF) sees no signs of further worsening of the economic situation in Ukraine in 2009. This was announced by Max Alier, head of the Resident Representative Office of the IMF in Ukraine.

Bank of Russia prohibited interest rates above 16.84%

The Central Bank of the Russian Federation set a ceiling for interests on banking deposits of private individuals at the level of 16.48%. Several banks out of Top-100 list of largest credit institutions acquired written requests from offices of the Bank of Russia which is asking them to provide economic reasoning for excessively high rates on deposits.

IFRIC proposes guidance on settling financial liabilities with equity instruments

The International Financial Reporting Interpretations Committee  today published for public comment a draft Interpretation, IFRIC D25 (IFRIC) “Extinguishing Financial Liabilities with Equity Instruments”.

IASB publishes proposals on the classification of rights issues

The proposals seek to clarify the accounting treatment when rights issues are denominated in a currency other than the functional currency of the issuer.

SEC wants funding from market participants

The US Securities and Exchange Commission wants market participants to finance its activities. The regulator is facing too many duties because of the financial crisis, and it looks like the budget is not enough. That’s why they are raising the question.

USA plan to keep its financial markets from non-reliable investors from abroad

The US may become more hostile towards foreign investors as their lawmakers are planning to deny access to American financial market to all banks from countries where there is no sophisticated regulatory standards at least similar to the ones in the USA. The ones who oppose this idea warn that there are many alternatives to American markets in the world.