Are Banks Sweeping Dud Property Loans Under the Rug?
Photograph; AMR ALFIKY/ Reuters
New accounting rules should give investors an early warning, but surprises are cropping up and there could be more to come.
After the last major financial crisis, when scores of banks failed or took government bailouts while sporting seemingly pristine balance sheets, America’s accounting rule makers got working on a new system for reporting credit losses that was supposed to make lenders recognize them more quickly.
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