Thursday, April 2, 2009

FASB Gived Facility To Banks In Applying Mark-To-Market Accounting (April 2nd, 2009)

Wall Street jumped sharply after the Financial Accounting Standards Board gived a relief to the banks in applying mark-to-market accounting to their toxic assets. With this rules' relaxation, the troubled banks' balance sheet would be potentially repaired.

Beside that, another thing that also increased Wall Street was a news about the G20 leaders' agreement to provide additional funds of around $ 1 trillion to the IMF and other global institutions, such as the World Bank. The funds injection was aimed to speed up the global economic recovery.

Wow! These news were very spectacular and made Dow Jones jumped up to over 8000 points at the time this article was written. Hopefully, the world economy can recover as quick as we expected. Stay alert!


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