U.S. banks begin their 3rd quarter reporting on Monday, including disclosure of all debt related securities as required by law.
Given that these securities are reported under “Mark to Market” guidelines, what do you all think the impact is going to be on financial markets?
I am posting this as I am very curious as to what the Pigginton’s community at large thinks, especially in light of the upcoming FED announcement on Tuesday.
I just read a Financial Times article about his issue.
There’s no market for some the assets the banks hold so it’s difficult to value the assets, much less trade them. The Fed migh relax the rules and go easy on the banks.
Remember BNP Paribas? They could not value their funds so froze them temporarily.
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