BIZ annual report released

http://www.biz.org/publ/arpdf/ar2009e.pdf?noframes=1



"What seems clear is that the deterioration in credit quality will generate
more losses on banks’ loan books and other credit exposures (see Chapter III).
Banks may therefore have an incentive to delay recognising losses, aided
by accounting rules that provide management more discretion over when to
write down assets. Taxpayers will not want to be exposed to greater potential
losses, but key financial institutions are likely to require more government
support in order to facilitate the required adjustments, to restore confidence
in the financial system and to restart lending on a sustainable basis."

Biz Report