warn the planned tightening of accounting rules for off-balance sheet vehicles
would force US banks to reconsider arrangements and could result in up to $5
trillion (?2.5 trillion) of assets coming back on to their books.
‘We think it is very likely that these vehicles will come back on balance
sheet.’ Birgit Specht, head of securitisation analysis at Citigroup, told
‘This will not affect liquidity because [they] are funded, but it will affect
debt-to-equity ratios [at banks] and so significantly impact banks’ ability to
Specht told a seminar on asset-backed securities in Cannes the uncertainty
about the change was making banks concerned about their investments. ‘Banks are
not investing [in assets] right now because of funding issues and regulatory
uncertainty,’ he said.
Improvements to cashflow statements are being targeted in a consultation launched by the Financial Reporting Council (FRC)
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Long-serving PwC director Fiona Westwood has moved to Smith & Williamson and stepped up to partner