Community Bankers Association of Illinois

Action Alert! Urge the Financial Accounting Standards Board (FASB) to withdraw its "Fair Value" or "Mark-to-Market" Proposal
September 22, 2010

CBAI is calling on Illinois community banks to urge FASB to withdraw its "Fair Value" or "Mark-to-Market" proposal. The proposed accounting changes applied to community banks are more likely to mislead investors and financial statement users than provide them with a clearer picture of financial condition. The dramatic changes proposed by FASB would cause community banks to significantly change their accounting policies and practices. These changes will be expensive to implement and be of questionable value. Unfortunately, community banks will likely need even more capital to offset the resulting increased volatility in financial instrument values. The comment period ends on September 30, 2010.

To send a pre-written customizable letter via e-mail, please CLICK HERE.

To view CBAI's Comment Letter to FASB, please CLICK HERE.

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