They fear balance sheets could be hit with billions of euros of potential losses from derivatives
Published:
12 June 2004 y., Saturday
Europe's banks warned the European Commission against endorsing new accounting standards, which they fear could hit balance sheets with billions of euros of potential losses from derivatives, the Financial Times said.
The Commission hopes to reach a deal with the International Accounting Standards Board. If it endorses the board's proposals for interest rate derivatives, 7,000 listed companies in the European Union will have to apply them from next January.
But the European Banking Federation, spearheaded by French banks, has objected to the prospective agreement between the Commission and the IASB, the FT said on Thursday.
Under such a deal, banks would still have to show derivatives at market or 'fair' value - the measure they believe would dangerously increase volatility.
But the information would be ring-fenced from the rest of the balance sheet, and over the medium term the board would look at an alternative proposal from the banking federation, the paper said.
Šaltinis:
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
According to the data presented by the Ministry of Finance, in end-January central government debt made up LTL26, 310.8 million or 28% of projected GDP for 2010 (LTL 93, 819 million).
more »
As far as countries affected by the economic crisis, China fared extremely well.
more »
The European Commission has authorised today a Slovak scheme with a budget of approximately €3.32 million which aims at supporting farmers in Slovakia who encounter difficulties as a result of the current economic crisis.
more »
Commission sets out a 10-year strategy for reviving the European economy, casting a vision of ‘smart, sustainable, inclusive' growth rooted in greater coordination of national and European policy.
more »
The European Commission has launched today the Europe 2020 Strategy to go out of the crisis and prepare EU economy for the next decade. The Commission identifies three key drivers for growth, to be implemented through concrete actions at EU and national levels.
more »
Launching of the “SCHOOLS’ initiative for innovation and changes” Grant scheme.
more »
EU Member States must not only deliver on their international aid pledges, but also bring in a financial transactions tax and a temporary debt moratorium, to help developing countries to cope with the effects of the global financial and economic crisis, said the Development Committee on Monday.
more »
The EBRD is increasing its commitments to promote sustainable energy projects in Slovakia with a new €90 million funding under the existing Slovakia Sustainable Energy Finance Facility (SLOVSEFF) to ensure continuous implementation of energy efficiency and small renewable energy projects.
more »
According to the unaudited data, in 2009 AB Bank SNORAS earned LTL 8.7 million profit. The bank’s assets grew by 11 per cent up to LTL 6.342 billion during 2009 and were by LTL 647.8 million larger than at the beginning of 2009.
more »
Aviation security measures that go beyond common EU requirements should be paid for by Member States, not by passengers, said Transport Committee MEPs in a vote on Monday that could put Parliament on a collision course with the Council of Ministers.
more »