The byzantine accounting rule introduced much volatility into the earnings and has finally been repealed by the US Financial Accounting Standards Board.
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Regulators in Europe and the US are still dealing with a backlog of cross-border problems in the over-the-counter derivatives market. Are these issues resolvable, and what is at stake if they are not? By Michael Watt.
The notional value of derivatives from US market participants dropped to the lowest levels since the financial crisis in the second quarter of this year, the Office of the Comptroller of the Currency reports.
The announcement in December 2014 of a restoration of normal relations between Cuba and the US shocked many, and thus far very little opposition has been registered. However, this inactivity should not shroud the challenges that lie ahead for both countries, says Peter Hakim of Inter-American Dialogue.