Some bank executives and investors are reviving calls for changes to U.S. accounting rules around held-to-maturity securities in the wake of the collapse of Silicon Valley Bank
audit committees. Mr. Herz declined to comment on whether the FASB should change accounting rules now.
More than a decade later, the banking industry’s views are largely unchanged, with industry experts saying that the use of fair-value accounting for all financial instruments with a requirement to reflect the changes each period through the income statement doesn’t reflect the banking business. The existing rules are sufficient, said Charles Levingston, chief financial officer at Bethesda, Md.
Meanwhile, some investors continue to push for accounting requirements they say reflect economic reality. SVB’s billions of dollars in unrealized losses tied to HTM securities would have been clearer to investors if the bank had been obligated to record them at fair value, said Sandy Peters, head of financial reporting policy at the CFA Institute.
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