New rule to add $400 billion to S&P 500 books-CSFB

Newswire

NEW YORK, June 30 (Reuters) - A new accounting rule taking effect on Tuesday will add nearly $400 billion of assets and liabilities to Standard & Poor's 500 companies' balance sheets, Credit Suisse First Boston said in a new report. About $55 billion of assets at Citigroup Inc. and $43.6 billion at General Electric Co. might move onto balance sheets because of changes adopted in January by the Financial Accounting Standards Board (FASB), which sets accounting rules for US companies, ...

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