The European Commission on Wednesday (15 October) changed EU accounting rules to help banks avoid sharp drops in the value of their assets at times of market volatility, such as the present financial crisis.
The move on "mark-to-market" accounting - made by the commission's accounting regulatory committee - has unanimous support from EU member states and will apply for 2008 third quarter corporate results, due to be published soon.
Under current mark-to-market accounting rules, co...
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