公允价值外文文献.doc

公允价值计量属性与上市公司利润外文翻译 英文原文： FAIR VALUE ACCOUNTING IN THE BANKING SECTOR Mary Pacaperscu The Financial Instruments Joint Working Group (JWG) of Standard Setters issued in December 2000 the consultative document entitled “Draft Standard and Basis for Conclusions – Financial Instruments and Similar Items”. The Draft Standard reviews and assesses an extensive use of fair value accounting (FVA) as the basis for the valuation of all financial instruments in a bank’s balance sheet. The work of the JWG is linked to the long-term strategy of the International Accounting Standards Committee (IASC) – recently replaced by the International Accounting Standards Board (IASB) – to introduce a comprehensive FVA framework for the recognition and measurement of financial instruments. The JWG invited comments on the Draft Standard from all interested parties by 30 September 2001. The IASB will evaluate the long-term prospects of FVA in the light of the comments received. This note conveys the comments of the European Central Bank (ECB) on an important dimension of the proposal put forward by the JWG, notably the application of FVA to the banking sector. After reviewing the main innovations of the Draft Standard, the note focuses on the critical aspects associated with the application of a full FVA regime to the banking sector and presents a possible way forward. I. The main innovations of the Draft Standard for the banking sector The present accounting rules for banks in the European Union distinguish between financial instruments held for trading purposes (in the trading book) and those intended to be held to maturity (in the banking book). Instruments held in the trading book are valued at market prices. A profit and/or loss arising from the revaluation of trading book instruments is recognised in the profit and loss account. The accounting rules for the trading book thereby take all market risks (i.e. price risk, interest rate risk, foreign exchange risk and liquidity risk) into acco