Hans Hoogervorst

Banks Should Recognize Credit Losses Earlier, IASB Says

Banks should be required to recognize losses on credit portfolios before the assets go into default, an international accounting standards body said today.

U.S. Banks Bigger Than GDP as Accounting Rift Masks Risk

Warning: Banks in the U.S. are bigger than they appear.

U.S. Will Probably Adopt IFRS Standards, IASB Chairman Says

The U.S. will probably adopt International Financial Reporting Standards, said Hans Hoogervorst, the new chairman of the London-based accounting organization IASB.

Libor Arrests, AIG Bailout Ends, EU Transfers: Compliance

A former Citigroup Inc. trader is among three people held in the first U.K. arrests as part of global probes into tampering with the London interbank offered rate, according to two people familiar with the matter.

Accounting Board Should Focus on China Over U.S., ICAEW Says

The International Accounting Standards Board should stop trying to get the U.S. to adopt its standards and instead focus on China and other countries that are more willing to follow the rules, a U.K. group said.

European Bank Blowups Hidden With Shell Games: Jonathan Weil

The last time the world had a major banking crisis, fair-value accounting rules were near the top of the list of scapegoats most likely to be denounced by government and industry leaders. Not so this go-around.

EU Algorithm Scrutiny, Warren’s Enforcers, Fed Data: Compliance

High-frequency traders face European Union limits on the number of orders they can place, as well as requirements to tell regulators how their computer algorithms work.

FASB to Negotiate on Fair-Value, New IASB Head Tells Les Echos

The U.S. Financial Accounting Standards Board “is ready to move towards a more balanced approach” on whether to apply fair-value accounting to all financial assets, a position that has threatened convergence with the London-based International Accounting Standards Board, Les Echos said, citing IASB incoming president Hans Hoogervorst .

European Banks Need Bigger Writedowns on Greek Bonds, Standards Board Says

Some European banks haven’t sufficiently written down the value of Greek government bonds and other “distressed sovereign debt” they own, the organization that sets accounting rules in the region said.

Holding Sovereign Debt with No Capital Is Risky, IASB Chief Says

Global capital rules which allow banks to hold no reserves against sovereign bonds creates risk, Hans Hoogervorst, chairman of the International Accounting Standards said in Brussels today.

"We believe the model leads to a more timely recognition of credit losses."

- Hans Hoogervorst on Mar 07, 2013

China

London

Israel to Halt Weapons Flow to Hezbollah, Analyst Says

Berkshire Cash Hits Record $49.1 Billion as Profit Climbs

Fusion Scientists See Progress as Obama Shows No Ardor

Billionaire Kaiser Exploiting Charity Loophole With Boats

China’s Cyberspies Outwit Model for Bond’s Q