MBS Investors Get More Time to Adjust To Impairment Accounting Change
September 17, 2004
Banks, thrift and other investors in mortgage-backed securities will have more time – and possibly easier implementation guidelines – to adopt new accounting rules that could significantly increase earnings volatility. The Financial Accounting Standards Board last week heeded industry calls to delay the effective date of a new standard that has raised widespread concerns among investors and dealers in MBS and other securities that are affected by interest-rate changes.