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Politics : Sioux Nation

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Dec 9 3:59 PM EST

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From: Rock_nj	3/12/2009 12:53:33 PM
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House panel gets pledge from FASB head to try to act on accounting rule in 3 weeks Thursday March 12, 2009, 12:19 pm EDT WASHINGTON (AP) -- A House panel has wrung a promise from the head of an accounting board to try to issue guidelines in three weeks that will ease rules that force banks to value assets at current prices. The commitment by the chairman of the independent Financial Accounting Standards Board came Thursday at a hearing after the head of the House panel, Rep. Paul Kanjorski, held out the threat of legislation to pressure the standard-setting board to take steps that would give relief to battered banks. FASB had planned to put out the guidelines in the April-June quarter. Herz says told a House panel the agency "could have the guidance in three weeks."

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