淺談公允價(jià)值計(jì)量屬性在新準(zhǔn)則中的應(yīng)用外文文獻(xiàn)-展示頁(yè)
2025-07-01 15:30本頁(yè)面
【正文】 theoretical due to the absence of homogeneity and therefore parability in FVA methodologies. Furthermore, the possible concrete application of a full FVA regime (applying to all assets and liabilities) to the banking sector gives rise to some serious problems and concerns.The application of FVA may be suitable for the trading book of banks, which refers to transactions (buying and selling) of marketable securities and related instruments with the objective of making a profit from shortterm price variations. The use of fair value for these transactions is consistent with the availability of market prices and the shortterm horizon. However, the application of FVA to the banking book of banks, . to nonnegotiable instruments such as loans, appears to be inappropriate for at least three main reasons.First, the issue of relevance. FVA principles do not reflect properly the way in which banks manage their core business, namely the granting of loans. The essence of bank management in this area lies in taking longterm decisions about credit quality and concentration and fostering customer relationships over the life of the contracts. It is less concerned about shortterm variations that represent the basis for the use of FVA principles. Therefore, there is the possibility that the introduction of FVA for the banking book might in principle create incentives for banks to alter their core business. This would be the case if banks decided to reduce their exposure to increased volatility of ine (stemming from the accounting recognition of interest rate risk in the banking book) by shortening the average maturity of loans. Other ways to achieve the same goal would be the recourse to hedging techniques and the increased use of variable interest rates. The decision to reduce the average maturity of loans would depend also on other factors, including the nature of customer demand and the specific cost structure of individual banks.Second, the issue of feasibility. There are serious doubts that an adequate fair value can be determined for bank loans, which are nonnegotiable instruments precisely because they embody elements that cannot be easily quantified in a standardised manner. First, there are, by definition, no secondary markets for these instruments. This is particularly true where credit risk markets do not appear to be sufficiently deep and liquid for the purpose concerned. Second, some relevant information for the determination of the fair value of loans (. that
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