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Key Bank exec: Fair value accounting torpedoed deal (from Corporate Dealmaker)

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...

Posted on October 31, 2008 12:41 PM