Financial Times FT.com

Rethink of rules on value boosts banks

By Saskia Scholtes and Julie MacIntosh

Published: October 1 2008 22:10 | Last updated: October 1 2008 22:10

Shares of US banks gained a boost on Wednesday as investors bet that new guidance on mark-to-market accounting rules would alleviate pressure on third quarter earnings.

The Securities and Exchange Commission said on Tuesday that managers could use their own judgment when valuing securities in illiquid markets, which means they can use measurements other than actual market prices.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this