What are the exact changes in the account rules?

What are effects of the new mark-to-market rule, which is now at "orderly" sale rather than fire sale. These changes are openly expressed by committee members that were under the congressional pressure and banks' complaints. Such yielding to these pressure is unusual. Intuitively, as an independent institution, it is biased to make such conclusions.

However, how much banks can be benefit from such rule change is not clear. Investors are not sure if they have realized the actual impacts. The details of the rule will be released in coming a few weeks, according to the New York Times. Citigroup states that the new rule would change their balance sheet.

At the same time, FASB also acknowledged investors' concern. One change adopted by the board would require banks to disclose the effect of the changed interpretation, although the final wording has not been released and it is not clear how detailed that disclosure will be. For some other assets, banks must write them down to market value only if they conclude that the decline is “other than temporary.” The measure that drew dissents will allow banks to keep part of such declines off their income statements, although the decline would still show on the institutions’ balance sheets. While it was the banks who pressed for the rule, it will affect all financial institutions. But the board said it would make small changes to assure that it did not change accounting in mutual funds, which must mark their assets to market value every day.

On the other hand, the Bank Association show appreciation after the announcement. Various investor groups expressed their concerns.