Fed's Bies on fair value accounting

In a speech on 'Fair value accounting' given on 18 November, Susan Bies of the Federal Reserve said the Financial Accounting Standards Board's fair value measurement standard is a good first step toward developing enhanced guidance for the estimation of fair values. However, much more work needs to be done before fair value estimates are reliable, verifiable, and auditable.

"As credit portfolio managers, you need to be aware of these movements to fair value accounting and how they will affect

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