UK - EU delays adoption of accounting rule changes

A major overhaul of accounting rules for financial instruments came into force in much of the world recently, but the European Commission decided to postpone adoption of the rules. Analysts said the changes would disproportionately hit some European banks. Other banks in Europe are upset with the decision because they are concerned they will be at a disadvantage compared with their international counterparts. (Read the article on EU delays adoption of accounting rule changes at Financial Times online.)