These accounting rules are intended to replace rules that smooth changes in asset and liability values with rules that focus on values at a point in time. But it is not at all clear how useful or relevant it is to determine point-in-time values of assets and liabilities in a defined-benefit plan.
Industrial loan companies Although the Federal Reserve Board strongly supports repealing the prohibition of interest payments on demand deposits, the Board opposes any amendment - such as the one contained in H.R. 1375 that would permit industrial loan companies (ILCs) to offer NOW accounts to businesses.