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010   $a9786612844133
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035   $a(PQKBTitleCode)TC0000940031
035   $a(PQKBWorkID)10947096
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035   $a(OCoLC)649536856
035   $a(MiAaPQ)EBC1608833
035   $a(IMF)WPIEE2009207
035   $a(EXLCZ)993170000000055351
100   $a20020129d2009      uf             0
101 0 $aeng
135   $aurcn|||||||||
181   $ctxt
182   $cc
183   $acr
200 10$aAccounting discretion of banks during a financial crisis /$fLuc Laeven, Harry Huizinga
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2009.
215   $a41 p. $cill
225 1 $aIMF Working Papers
300   $aBibliographic Level Mode of Issuance: Monograph
311   $a1-4519-1776-7 
320   $aIncludes bibliographical references.
330 3 $aThis paper shows that banks use accounting discretion to overstate the value of distressed assets. Banks' balance sheets overvalue real estate-related assets compared to the market value of these assets, especially during the U.S. mortgage crisis. Share prices of banks with large exposure to mortgage-backed securities also react favorably to recent changes in accounting rules that relax fair-value accounting, and these banks provision less for bad loans. Furthermore, distressed banks use discretion in the classification of mortgage-backed securities to inflate their books. Our results indicate that banks' balance sheets offer a distorted view of the financial health of the banks.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2009/207
606   $aBanks and banking
606   $aAccounting$xCorrupt practices
606   $aBanks and Banking$2imf
606   $aFinancial Risk Management$2imf
606   $aInvestments: General$2imf
606   $aIndustries: Financial Services$2imf
606   $aBanks$2imf
606   $aDepository Institutions$2imf
606   $aMicro Finance Institutions$2imf
606   $aMortgages$2imf
606   $aFinancial Institutions and Services: Government Policy and Regulation$2imf
606   $aInternational Financial Markets$2imf
606   $aGeneral Financial Markets: General (includes Measurement and Data)$2imf
606   $aBanking$2imf
606   $aFinance$2imf
606   $aFinancial services law & regulation$2imf
606   $aInvestment & securities$2imf
606   $aLoans$2imf
606   $aLoan loss provisions$2imf
606   $aAsset valuation$2imf
606   $aSecurities$2imf
606   $aBanks and banking$2imf
606   $aState supervision$2imf
606   $aAsset-liability management$2imf
606   $aFinancial instruments$2imf
607   $aUnited States$2imf
615  0$aBanks and banking.
615  0$aAccounting$xCorrupt practices.
615  7$aBanks and Banking
615  7$aFinancial Risk Management
615  7$aInvestments: General
615  7$aIndustries: Financial Services
615  7$aBanks
615  7$aDepository Institutions
615  7$aMicro Finance Institutions
615  7$aMortgages
615  7$aFinancial Institutions and Services: Government Policy and Regulation
615  7$aInternational Financial Markets
615  7$aGeneral Financial Markets: General (includes Measurement and Data)
615  7$aBanking
615  7$aFinance
615  7$aFinancial services law & regulation
615  7$aInvestment & securities
615  7$aLoans
615  7$aLoan loss provisions
615  7$aAsset valuation
615  7$aSecurities
615  7$aBanks and banking
615  7$aState supervision
615  7$aAsset-liability management
615  7$aFinancial instruments
700   $aLaeven$b Luc$01463965
701   $aHuizinga$b Harry$0119267
712 02$aInternational Monetary Fund.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910788226703321
996   $aAccounting discretion of banks during a financial crisis$93741571
997   $aUNINA