Posted on October 31, 2008 at 12:41 PM
Filed under: Accounting Notebook | Acquisitions
Tagged: fas 157 , key bank

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Speaking at an SEC roundtable on Wednesday, Chuck Maimbourg, Key Bank's director of accounting policy, said that FAS 157, the two-year old fair value accounting standard, was the reason his bank scrapped plans to buy another earlier this year.

The target's assets were hold-to-maturity loans, according to a report at CFO.com. Marking them to market, as the rule requires, would have made the deal unworkable.

Sounds like an issue that could be coming up a lot in the months ahead. - Kenneth Klee


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