Banks' 'indifference' to IAS 39 hints at software panic-buying

Vendors said some banks are showing an indifferent attitude to the new standards, which could ultimately lead to the panic hiring of hedge-compliant systems from software vendors.

Garfield Hayes, head of client research and strategy at Wall Street Systems in London, said the response to IAS 39 has been "hot and cold" depending on banks' readiness. "There is no consistent pattern emerging -- some have embraced it by keeping staff up to speed, whereas others are leaving it to their accounting d