Tuesday, March 10, 2009

Bernanke: We Need Improvements to Fair Value Rules

Comments from Bernanke at a Council on Foreign Relations event in New York today:
"We all acknowledge that in periods like this when some markets don't exist or are highly illiquid that the numbers that come out can be misleading or not informative."
"We need to provide more guidance to financial institutions about what are reasonable ways to address the valuation of assets that are traded at all in highly problematic markets.
Bernanke did not provide details about what kind of changes he would like to see to mark-to-market rules.

Thank you Captain Obvious