In April 2, 2009, in the middle of the global financial crisis, the US Financial Accounting Standards Board (FASB) eased the fair-value accounting rule so as to permit companies (and financial...

In April 2, 2009, in the middle of the global financial crisis, the US Financial Accounting Standards Board (FASB) eased the fair-value accounting rule so as to permit companies (and financial institutions) to limit their losses by allowing them to apply significant judgment in gauging the market prices of some investments such as mortgage-backed securities.