Some European banks should have included bigger losses due to their Greek government bond holdings, but have failed to do so in their most recent financial results announcements, according to a recent letter sent by the International Accounting Standards Board (IASB), according to the Financial Times.

The IASB criticized banks and insurers for the way the wrote down the value of their Greek sovereign debt. The private letter sent by the IASB to the European Securities and Markets Authority did not mention any names or countries.

More about it on Reuters.

editor@romania-insider.com

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