Accounting Standards: Treatment of Asset-Backed Securities
Description:
Correspondence issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO provided information on whether the greater discretion allowed to banks as opposed to securities broker/dealers under accounting standards and practices may have resulted in less transparency in the value of asset-backed securities held by banks, focusing on: (1) mortgage-backed securities (MBS); (2) the accounting treatment applied to securities (including MBS) held by …
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Date:
April 14, 1999
Creator:
United States. General Accounting Office.