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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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.

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LSTA Newsletter: July 10, 2020

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