Valuing an asset at the price it would fetch today, rather than at what it cost. It needs a market price — which illiquid loans do not have.
按市值计价
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| £300m | Bank of England examines Barclays over private credit trades 按市值计价 · 第 6 张术语卡 | Barclays values its private credit swaps at about £300 million mark-to-market, against £1.5 billion of notional. 没有市价时，银行只能用模型估值（mark-to-model），而模型假设由自己定。这就是监管对私募信贷最不放心的地方：估值一旦由被监管者自己说了算，损失就可以「推迟确认」。压力测试要问的正是——如果被迫按甩卖价重估，资本还够不够。 |