Banking experts agree. Mark to market is not required:
“Banking experts agree.” What could possibly go wrong?
Not quite that simple...
“For banks that are not considered under FASB’s definition to be “public business entities,” there is good news regarding footnote disclosures of the fair value of all assets and liabilities: these disclosures will no longer be required. However, banks that are public business entities will be required to disclose the value of their loans at the so-called “exit price” – a major change for most banks.”
Valuations are disclosed.
And the use of 12 year old articles about the current Mark practices is about 4 amendments to ASC 820 out of date and the article was 3 years before the standard was adopted.
You’re banking experts changed their knowledge when the CPA’s told ‘em to.
The HGExperts article is 13 years old and was written 5 years before ASC 820 became standard.
I quoted the other article in another response — pretty clear that for a public bank that things need to get disclosed.