In my view, the proposal is a good first step in enhancing fair value measurement guidance, but I believe additional guidance is warranted. Reliability issues should be addressed more comprehensively in the proposal.
Agustín Carstens: Emerging markets Text of The Bagehot Lecture by Mr Agustín Carstens, Governor of the Bank of Mexico, at The Buttonwood Gathering 2013 “Searching for financial stability”, The Economist, New York City, 30 October 2013. *  *  *  It is a great honor to have been invited to deliver this Bagehot Lecture.