Mark Kanaly was quoted in an Atlanta Journal-Constitution article that discussed two banking rules that critics note have exacerbated the current banking crisis in Georgia. The first rule forces banks to value foreclosed homes and vacant lots at fair market value, even if they don't plan to sell the property until prices recover. The second bans banks that fall below certain capital levels from bringing in brokered deposits, an often vital funding source.
Kanaly stated that the accounting rule "is just killing everybody. It's a mess."