Новости

FASB Issues Exposure Draft on “Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses”

The proposed Statement would be effective beginning with the first interim or annual reporting period ending after December 15, 2009, with early application encouraged.

SEC Proposes Rule Amendments to Strengthen Regulatory Framework for Money Market Funds

The Securities and Exchange Commission today voted unanimously to propose rule amendments designed to significantly strengthen the regulatory framework for money market funds to increase their resilience to economic stresses and reduce the risks of runs on the funds.

Europe may soon adopt ISAs

Starting from yesterday, the EC Directorate General for Internal Market and Services is consulting on possible implications and aspects of that process.

Russia’s professional business associations proposed special accounting regimes for smaller banks

In return for that, those banks will face certain restrictions in respect to their business operations: like, for instance, they won’t be allowed to open not only foreign branches, but even branches in another constituent entity of the Russian Federation. It is very likely that foreign transactions will also be prohibited.

FFMS proposed “zero value”

The Federal Financial Markets Service (FFMS) has developed amendments to the law, approval of which would allow management companies to set zero values for shares of liquidating companies.

Off-Balance-Sheet Accounting Changes Offer Challenges

Credit-rating agency Fitch Ratings said in a new report that it does not expect FASB’s recent amendments to off-balance-sheet accounting standards to result in negative rating actions, but it believes there will be challenges for issuers and analysts in transitioning to the new standards.

IASB proposes guidance for the preparation and presentation of management commentary

The International Accounting Standards Board (IASB) today published for public comment a proposed non-mandatory framework to help entities prepare and present a narrative report, often referred to as management commentary.

3% is not the limit

Since June 15, it is again possible to make unsecured transactions, also known as “short selling”, or “shorting” (when a client borrows financial securities from his/her broker counting on future decrease of their prices). Even now those transactions are not permitted by the Federal Financial Market Service (FFMS) if the deal’s price is 3% lower than the previous day’s closing price (formerly – 5%).

EU launches wave of financial regulation

European Union (EU) heads of government have agreed to establish a new Europe-wide system of financial supervision, imposing arbitration on national regulators disagreeing over controls of cross-border banks and other financial organizations.

New law on credit cards may hit Visa and MasterCard

US Congress is thinking of a better regulation for interchange rates – fees paid by sellers to cards-issuing banks. If approved, the law will have a negative impact on banks that receive those fees, says Reuters.