The banking and insurance industries have some concerns over the FASB proposal designed to improve the information businesses must disclose about the estimates and assumptions used to determine the fair values of assets and liabilities. The American Bankers Association (ABA) said the proposal will require banks to make significant changes to the way they track some of the assets covered by the disclosure requirements, reports Thomson Reuters. The American Academy of Actuaries, which includes many insurance company executives, said one of the proposed disclosure requirements may be impossible for insurers to put into place for some of the contracts they offer. On the other hand, academics say the proposed disclosures may produce
information investors will find valuable.
Extra: BVR kicks off a new webinar series on fair value on March 23. The first installment will be Business Combinations: Case Studies in Purchase Price Allocations, presented by Nathan DiNatale (SC&H Group).
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