Seven of the twelve Basle Committee countries have a separate agency, as against about 10 per cent of countries in the world as a whole.
assets on the trading book and available-for-sale assets should be measured on the fair value basis, while hold-to-maturity assets, loans and liabilities without an objective fair value should be recorded at historical costs. GAAP and IFRS define fair value in a similar way, which is a price at which an asset and liability can be traded with a willing counterparty in an orderly manner.