全球智库信息集成服务系统

Key Findings

• Both fair value accounting (FVA) and historical cost accounting (HCA) can be associated with systemic risk to the financial system under some circumstances.
• Available empirical evidence does not provide strong support for the claim that FVA was a primary driver of the 2008 financial crisis.
• When implemented poorly, both FVA and HCA can produce misleading information and lead to risk accumulation problems and the potential for market distortion.
• Improving both FVA and HCA information in financial statements should be a priority consideration for policymakers.