•  Second, valuation of illiquid complex structured products. Given present market conditions and the uncertainty concerning the underlying quality of the assets, there are currently no quotes or market prices for many structured finance products. However, year-end financial statements including valuations of structured finance products will have to be prepared soon.
The room for discretion under existing accounting rules and the use of marking-to-model valuations (in the absence of market prices), may result in very different valuations for similar assets. This lack of comparability and consistency in the valuation of similar assets should be addressed in order to restore confidence in this market.