capital Archives - Labour Business

A Financial Sector that Better Serves the UK Economy

Stephany Griffith Jones British Investment Bank

The UK needs a well-functioning financial sector which supports sustained and inclusive growth of the real economy.

Without Prudence, Mark to Market Encourages Fantasy Profits Hazard

Accounting changes across the EU in 2005 not only allowed banks to under-provide for loan losses but also brought in mark to market (MTM) for valuing financial assets and liabilities, including financial instruments. Mark to market is rooted in the

Accounting in UK Banking Sector Needs Drastic Reform

In November 2012, the Bank of England released its autumn Financial Stability Report (FSR). Chapter two shows the market capitalisation of the banks is significantly lower than their reported asset values. This indicates market mistrust of the accounting numbers amongst