Accounting standard-setters issued new rules Wednesday that could have profound effects, not just on how assets and liabilities get valued but on how banks do business.

The Financial Accounting Standards Board wants to vastly expand the use of mark-to-market accounting. In a draft ruling posted on its Web site late Wednesday, the FASB proposed that banks value unfunded loan commitments and loans they plan to hold to maturity in the same way they currently value loans they intend to sell. The rule also would change the way deposits are valued.

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