The International Accounting Standards Board's (IASB) trustees have said they support EU calls on easing fair-value requirements for banks, reports Reuters.
Critics of the fair-value, or mark-to-market, rule say it accelerates writedowns, forcing banks to raise more capital in a frozen market.
In a statement, the trustees said that the IASB could suspend normal processes for lengthy discussion.
The IASB needs to bring the rules of 100 countries to meet new US changes, where separate accounting rules are used.
Gerrit Zalm, chairman of the trustees and former Netherlands finance minister, said: "The goal must be to ensure that a fair and transparent level playing field related to financial reporting exists globally."
The proposal will take pressure off banks in a frozen money market by allowing them to value illiquid assets at the original price paid, rather than for the current price which is far lower.
According to the Times, the IASB said on Friday that it would discuss changes to the treatment of financial instruments between October 13th-17th.
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