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Found 3 results

  1. http://www.theguardian.com/business/2014/apr/27/delayed-flights-airlines-compensation-rulings
  2. Banks could be hit with billions of pounds in new losses under changes to the way they are required to account for assets, in a move intended to make the financial system less prone to a crisis. The International Accounting Standards Board (IASB), whose rules are followed by all the UK’s major lenders, has set out a series of rule changes that will require banks to recognise losses far earlier. Under the current rules, banks are only required to account for a loss when it occurs or if they believe they could exceed a certain threshold. However, the new code would force lenders to recognise upfront all the losses they could have to take against a loan over its life as soon as their is evidence of any deterioration in its value. The change is expected to answer criticisms that the current rules gives banks too much leeway on when and how much to take in provisions against their assets. Any changes to the way banks account for losses could force them to raise more capital to meet the cost of provisioning against any new writedowns. Tony Clifford, an international accounting specialist at Ernst & Young, said the rules would be likely to force banks to increase their provisions against losses. He described the proposed rule change as the single biggest change in accounting the banks have ever had to deal with. More: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9916491/Accounting-change-could-cost-banks-billions.html
  3. But unfortunately this is in the US. http://www.bbc.co.uk/news/world-us-canada-18839293
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