Monday, August 20, 2007
Errm, guys – this isn’t a game. You HAVE to provide a market valuation
The Bangkok Post today reports that Thai local banks are refusing to mark CDOs to market. The newspaper says the banks insist this is not necessary for accounting purposes, despite a directive earlier in the week from the Securities and Exchange Commission for local auditors to monitor whether CDO investments had been properly marked to market in their balance sheets.