Banks Propose Higher Credit Market Standards

Senior executives from the world's largest investment banks recently released a report suggesting new regulations of global credit markets. On Wall Street, there is a widespread loss of faith that the financial system can adequately assess and price risk. The report proposes stringent standards within banks for reporting the value of complex securities on balance sheets and recommends the creation of a market clearinghouse to allow quick exchange and valuation of such investments.

Snapshot asks, are these regulations cosmetic and an attempt to fend of heavy government regulation?

Financial Times - US banks urge sweeping credit market reform
Counterparty Risk Management Policy Group - Official Report