FASB issues new U.S. derivatives accounting rule

NEW YORK, March 19 (Reuters) - The Financial Accounting Standards Board, which sets U.S. accounting rules, on Wednesday issued a new rule requiring companies to say more about how complex derivatives and hedges affect their financial statements.

The rule, Financial Accounting Standard No. 161, goes into effect on Nov. 15, 2008, but companies are allowed to adopt the rule early.

Growing complexity in derivatives in hedging instruments over the past several years had led to investor concerns that the previous derivatives accounting rule, FAS 133, was inadequate, FASB said.

Under the new rule, the mark-to-market values of derivatives and their gains and losses will be shown in a table in company financials.

(Reporting by Emily Chasan, editing by Phil Berlowitz)