运用公允价值计量金融工具：银行监管的意义外文翻译.docVIP

外文文献翻译 原文： Fair Value Accounting for Financial Instruments： Some Implications for Bank Regulation 1.Introduction Accounting standards setters in many jurisdictions around the world, including the United States, the United Kingdom, Australia, and the European Union, have issued standards requiring recognition of balance sheet amounts at fair value, and changes in their fair values in income. For example, in the United States, the Financial Accounting Standards Board requires recognition of some investment securities and derivatives at fair value. In addition, as their accounting rules have evolved, many other balance sheet amounts have been made subject to partial application of fair value rules that depend on various ad hoc circumstances, including impairment (eg goodwill and loans) and whether a derivative is used to hedge changes in fair value (eg inventories, loans, and fixed lease payments). The Financial Accounting Standards Board and the International Accounting Standards Board (hereafter FASB and IASB) are jointly working on projects examining the feasibility of mandating recognition of essentially all financial assets and liabilities at fair value in the financial statements. In the United States, fair value recognition of financial assets and liabilities appears to enjoy the support the Securities and Exchange Commission (hereafter SEC). In a recent report prepared for a Congressional committee (SEC, 2005), the Office of the Chief Accountant of the SEC states two primary benefits of requiring fair value accounting for financial instruments. First, it would mitigate the use of accounting-motivated transaction structures designed to exploit opportunities for earnings management created by the current “mixed-attribute” – part historical cost, part fair values – accounting model. For example, it would eliminate the incentive to use asset securitization as a means to recognise gains on sale of receivables or loans. Second, fair value accounting for all financi