BCBS paper reviews how accounting may fuel crises
Authors find more research needed in some areas
A working paper published yesterday by the Basel Committee on Banking Supervision (BCBS) surveys the literature on accounting rules and the role they play in financial crises, raising implications for the design of disclosure rules.
The list of references in The interplay of accounting and regulation and its impact on bank behaviour runs to just over seven pages, giving an idea of the extent of the study. The authors find mixed results as to the impact of accounting. Some papers argue fair-value
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