首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
考研
Bankers have been blaming themselves for their troubles in public. Behind the scenes, they have been taking aim at someone else:
Bankers have been blaming themselves for their troubles in public. Behind the scenes, they have been taking aim at someone else:
admin
2015-06-22
52
问题
Bankers have been blaming themselves for their troubles in public. Behind the scenes, they have been taking aim at someone else: the accounting standard-setters. Their rules, moan the banks, have forced them to report enormous losses, and it’s just not fair. These rules say they must value some assets at the price a third party would pay, not the price managers and regulators would like them to fetch.
Unfortunately, banks’ lobbying now seems to be working. The details may be unknowable, but the independence of standard-setters, essential to the proper functioning of capital markets, is being compromised. And, unless banks carry toxic assets at prices that attract buyers, reviving the banking system will be difficult.
After a bruising encounter with Congress, America’s Financial Accounting Standards Board(FASB)rushed through rule changes. These gave banks more freedom to use models to value illiquid assets and more flexibility in recognizing losses on long-term assets in their income statement. Bob Herz, the FASB’s chairman, cried out against those who "question our motives. " Yet bank shares rose and the changes enhance what one lobby group politely calls "the use of judgment by management."
European ministers instantly demanded that the International Accounting Standards Board(IASB)do likewise. The IASB says it does not want to act without overall planning, but the pressure to fold when it completes it reconstruction of rules later this year is strong. Charlie McCreevy, a European commissioner, warned the IASB that it did "not live in a political vacuum" but "in the real world" and that Europe could yet develop different rules.
It was banks that were on the wrong planet, with accounts that vastly overvalued assets. Today they argue that market prices overstate losses, because they largely reflect the temporary illiquidity of markets, not the likely extent of bad debts. The truth will not be known for years. But bank’s shares trade below their book value, suggesting that investors are skeptical. And dead markets partly reflect the paralysis of banks which will not sell assets for fear of booking losses, yet are reluctant to buy all those supposed bargains.
To get the system working again, losses must be recognized and dealt with. America’s new plan to buy up toxic assets will not work unless banks mark assets to levels which buyers find attractive. Successful markets require independent and even combative standard-setters. The FASB and IASB have been exactly that, cleaning up rules on stock options and pensions, for example, against hostility from special interests. But by giving in to critics now they are inviting pressure to make more concessions.
Bankers complained that they were forced to______.
选项
A、follow unfavorable asset evaluation rules
B、collect payments from third parties
C、cooperate with the price managers
D、reevaluate some of their assets
答案
A
解析
细节题。第一段结束“These rules say they must value some assets at the price athird party would pay,not the price managers and regulators would like them tofetch.”银行家抱怨他们要遵守新的资产估值规定,要以愿意出资购买的第三方出价为准,这对他们是不利的。这和A项一致。
转载请注明原文地址:https://kaotiyun.com/show/B874777K
0
考研英语一
相关试题推荐
H1N1EpidemicTrendsThenumberofAmericansbeingtestedfortheswinefluhasplummeted,providingmoreevidencethatthe
TheChangeofHealthIndustryPatternBackin1979,afatunhealthypropertydeveloper,MelZuckerman,andhisexercise-fana
Parents’MistakeIdeasAboutAsthmaDiseaseWatchingachildstruggletobreatheduringanasthmaattackisfrighteningfor
ParkarePopularAgainAmongPeople’sLivesJusteastofdowntownIrvine,insouthernCalifornia,apastorallandscapeisun
TheOnlineLeasingServiceofNetflixIt’sFridaynight,andyouwanttowatchamovieathomewiththatspecialsomeone.Yo
【F1】Thehypothesisthatmoraljudgmentsareemotionallybasedcanexplainwhytheyvaryacrossculturesandresisttransformatio
Writeanessayof160—200wordsbasedonthefollowingdrawings.Inyouressay,youshould1)describethepicturesbriefly,2)ex
ManyforeignerswhohavenotvisitedBritaincallalltheinhabitantsEnglish,fortheyareusedtothinkingoftheBritishIsle
Becauseagricultureissoimportanttoanation’swell-being,governmentshavealwaysbeenconcernedwithit.Forexample,theU
随机试题
怎样使用气门油封夹钳?
(我颇为相信)thathewillagreewithourplan.
手太阴肺经主治
(2007年)微分方程cosydx+(1+e-x)sinydy=0满足初始条件的特解是()。
基金资产的所有人为()。
稳定战略的企业的薪酬结构()。
A公司是一家小型玩具制造商,2016年11月份的销售额为40万元,12月份销售额为45万元。根据公司市场部的销售预测,预计2017年第一季度1~3月份的月销售额分别为50万元、75万元和90万元。根据公司财务部一贯执行的收款政策,销售额的收款进度为销售当月
根据不同层次管理人员介入战略分析和战略选择工作的程度,可以将战略形成的方法分为自上而下的方法、自下而上的方法和上下结合的方法三种。三种方法的主要区别在于战略制定中对()的把握。
新余有限责任公司共有股东4人,股东刘某为公司执行董事。根据公司法律制度的规定,在公司章程无特别规定的情形下,刘某可以行使的职权是()。
课程计划、课程目标和教材是课程内容的三种文本表现形式,应该给予高度重视。
最新回复
(
0
)