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The Impact of SFAS No. 157 on Commercial Banks

  • Richard Schroeder

    ()

  • David Schauer

    ()

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    During 2008, U. S. banks were mired in a credit crisis. According to a group of economists and bankers, one cause of the 2008 credit crisis was an accounting rule termed mark-to-market. This rule required banks to write down large portions of their investment portfolios. The purpose of this study is to examine the impact of the mark-to-market model on a sample of banks for the first three quarters of the year 2008. Results indicated that while banks grew by 20% over time, the percentage of assets measured at fair value rose only slightly. Additionally, the results indicated that applying the mark-to-market rule did not reduce the regulatory capital position of banks. Copyright International Atlantic Economic Society 2010

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    File URL: http://hdl.handle.net/10.1007/s11294-010-9256-1
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    Article provided by International Atlantic Economic Society in its journal International Advances in Economic Research.

    Volume (Year): 16 (2010)
    Issue (Month): 2 (May)
    Pages: 175-189

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    Handle: RePEc:kap:iaecre:v:16:y:2010:i:2:p:175-189
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    1. Peter J. Wallison, 2009. "Fixing fair value accounting," OECD Journal on Budgeting, OECD Publishing, vol. 9(2), pages 1-8.
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