The Financial Accounting Standards Board couldn't come to agreement on a system of market value accounting for investment securities, and instead will see if problems with historical amortized cost accounting can be resolved.

"I don't view this as a repudiation of the market value project," said Robert C. Wilkins, director of the project. "I think the most productive thing is to revisit the problems of historical cost accounting, so board members will be reminded again of the opportunities and difficulties that exist there."

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