FDIC's Bair scrutinizes the FASB's proposed fair-value rule

11/19/2010 | Global Financial Strategy

Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., said the Financial Accounting Standards Board's fair-value accounting proposal could be a misstep. "While we understand that the objective of the rule is to make financial statements more transparent, we believe that its effect could be to undermine financial stability by making bank performance more procyclical," Bair said during a joint SIFMA/AICPA conference.

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