The purpose of the committee is to provide a forum for discussion on the following topics pertaining to the valuation of loans:

  • The current state of valuation – Loan Mark-To-Market (MTM) pricing methodologies.
  • The classification of MTM prices within the scope of: o Amendments to Rule 2a-7 (July 2014 guidance) under the 1940 Act Rule 2a4 – definition of value. o FASB Acct. Standards Codification 820 – how fair value of assets should be determined – Level 1, Level 2, Level 3.
  • Issues being conveyed by Accounting firms and/or increased SEC scrutiny on the classification of MTM loan prices o In what capacity are such valuation issues being addressed? How might the committee assist in providing an industry-wide solution?

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