Heavyweight group dismisses mark-to-market fears

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A group composed of leading regulators, central bankers and private-sector figures has absolved mark-to-market rules and accounting standards from causing the financial crisis.

The Financial Crisis Advisory Group on Tuesday countered claims that fair-value accounting had exacerbated the pro-cyclicality of the financial system by causing an overstatement of losses through mark-to-market rules. "It is unlikely that, on balance, accounting standards led to an understatement of the value of financia

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