Accounting standards boards have proposed a rule change that would require banks to bring more derivatives exposure onto their books. The change would bring U.S. accounting rules in line with international guidelines. "The impact could be significant to bank balance sheets," said Chris Senyek, an accounting analyst at International Strategy & Investment. "It would increase bank asset levels and their reported [generally accepted accounting principles] leverage ratios." The International Swaps and Derivatives Association responded with a statement critical of the proposals. "The Boards' proposal to report derivatives on a gross basis rather than a net basis on the balance sheet is counterintuitive, may lead to complexity in practice and can obscure the real position of the entity. It is likely to be misleading when presenting the leverage, credit risk and liquidity risk position of an institution," the ISDA said.