U.S. Federal Reserve Chairman Ben Bernanke said on Tuesday that he did not favor suspending mark-to-market financial accounting, but understood the problem of valuing assets in highly disrupted markets.

"I would not support any suspension of mark-to-market," the Fed chief told the Council on Foreign Relations after delivering a speech on financial regulation.

Bernanke, however, did say that he would like to see more done to provide guidance to banks and financial firms on how they can give indications of value for assets being traded under fire-sale market conditions.