Avatar Posted by Mortgages 8 hours ago (http://www.mortgagedaily.com)
Category: Mortgages
A letter from the American Bankers Association to the chairman of the Securities and Exchange Commission requests that the regulator override a staff position on FAS Statement No. 157 issued by the Financial Accounting Standards Board. ABA explained that FASB's guidance requires that liquidity risk, from the buyer's perspective, be included in the cash-flow calculation -- leading back to distressed value as the basis for valuation. ABA also noted that large banks have too many transactions to read more »
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