Accounting standard setters are prepared to issue new rules that could have profound effects, not just on how assets and liabilities get valued but on how financial services companies do business in the future.

The Financial Accounting Standards Board wants to vastly expand the use of mark-to-market accounting. In a draft ruling scheduled for release late Wednesday or Thursday, the FASB is expected to propose that banks value unfunded loan commitments and loans they plan to hold to maturity in the same way that they currently value loans they intend to sell.

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