浅谈公允价值计量属性在新准则中的应用外文文献

-1-外文文献：FAIRVALUEACCOUNTINGINTHEBANKINGSECTORTheFinancialInstrumentsJointWorkingGroup(JWG)ofStandardSettersissuedinDecember2000theconsultativedocumententitled“DraftStandardandBasisforConclusions–FinancialInstrumentsandSimilarItems”.TheDraftStandardreviewsandassessesanextensiveuseoffairvalueaccounting(FVA)asthebasisforthevaluationofallfinancialinstrumentsinabank’sbalancesheet.TheworkoftheJWGislinkedtothelong-termstrategyoftheInternationalAccountingStandardsCommittee(IASC)–recentlyreplacedbytheInternationalAccountingStandardsBoard(IASB)–tointroduceacomprehensiveFVAframeworkfortherecognitionandmeasurementoffinancialinstruments.TheJWGinvitedcommentsontheDraftStandardfromallinterestedpartiesby30September2001.TheIASBwillevaluatethelong-termprospectsofFVAinthelightofthecommentsreceived.ThisnoteconveysthecommentsoftheEuropeanCentralBank(ECB)onanimportantdimensionoftheproposalputforwardbytheJWG,notablytheapplicationofFVAtothebankingsector.AfterreviewingthemaininnovationsoftheDraftStandard,thenotefocusesonthecriticalaspectsassociatedwiththeapplicationofafullFVAregimetothebankingsectorandpresentsapossiblewayforward.ThemaininnovationsoftheDraftStandardforthebankingsectorThepresentaccountingrulesforbanksintheEuropeanUniondistinguishbetweenfinancialinstrumentsheldfortradingpurposes(inthetradingbook)andthoseintendedtobeheldtomaturity(inthebankingbook).Instrumentsheldinthetradingbookarevaluedatmarketprices.Aprofitand/orlossarisingfromtherevaluationoftradingbookinstrumentsisrecognisedintheprofitandlossaccount.Theaccountingrulesforthetradingbooktherebytakeallmarketrisks(i.e.pricerisk,interestraterisk,foreignexchangeriskandliquidityrisk)intoaccount.Bankingbookinstruments,bycontrast,arecarriedinthebalancesheetatthelowerofhistoricalcostandmarketvalue.Whereasalossonabankingbookinstrumentistransferredtotheprofitandlossaccount,unrealisedgainsarenotrecognisedandcantherefore-2-becomehiddenreservesinthebalancesheet.Therefore,theaccountingrulesforthebankingbookdonottakemarketrisksintoaccount(exceptfortheforeignexchangerisk,wheretheend-periodvalueisusuallyappliedtoalmostallbalancesheetitems).TheDraftStandardproposesauniformruleforallfinancialinstruments.Theassetsandliabilitiesarecarriedinthebalancesheetatmarketvalues,iftheyareavailable,oratfairvaluescalculatedasanapproximationofthemarketvaluebyusingapresentvaluemodelfordiscountingtheexpectedfuturecashflow.Forbanks,thiswouldimplythatthetradingandbankingbookswouldreceiveequalaccountingtreatment,wherebyallchangesinvaluewouldberecognisedinthebalancesheetandtransferredtotheprofitandlossaccount.Theforeseenrevaluationappliesirrespectiveofwhetheraprofitorlosshasbeenrealisedorremainsunrealisedbecauseallinstrumentsareeithermarkedtomarketorthefairvalueisestimated.Thehiddenreservesthatmayariseundertheexistingaccountingrulesthusdisappear.Marketriskswouldbetakenintoaccountwhencalculatingthevalueoffinancialinstrumentsinboththetradingandthebankingbook.CriticalaspectsAccordingtoitsproponents,anFVAregimemayconstitute,fromaconceptualpointofview,analternativeapproachtoreportingfinancialperformanceinordertoavoidsomeoftheproblemsassociatedwiththecurrenthistoricalcostaccounting.Oneofitsmainadvantageswouldbetoenhancethedegreeoftransparencyoffinancialstatements.However,thispointofviewremainstheoreticalduetotheabsenceofhomogeneityandthereforecomparabilityinFVAmethodologies.Furthermore,thepossibleconcreteapplicationofafullFVAregime(applyingtoallassetsandliabilities)tothebankingsectorgivesrisetosomeseriousproblemsandconcerns.TheapplicationofFVAmaybesuitableforthetradingbookofbanks,whichreferstotransactions(buyingandselling)ofmarketablesecuritiesandrelatedinstrumentswiththeobjectiveofmakingaprofitfromshort-termpricevariations.Theuseoffairvalueforthesetransactionsisconsistentwiththeavailabilityofmarket-3-pricesandtheshort-termhorizon.However,theapplicationofFVAtothebankingbookofbanks,i.e.tonon-negotiableinstrumentssuchasloans,appearstobeinappropriateforatleastthreemainreasons.First,theissueofrelevance.FVAprinciplesdonotreflectproperlythewayinwhichbanksmanagetheircorebusiness,namelythegrantingofloans.Theessenceofbankmanagementinthisarealiesintakinglong-termdecisionsaboutcreditqualityandconcentrationandfosteringcustomerrelationshipsoverthelifeofthecontracts.Itislessconcernedaboutshort-termvariationsthatrepresentthebasisfortheuseofFVAprinciples.Therefore,thereisthepossibilitythattheintroductionofFVAforthebankingbookmightinprinciplecreateincentivesforbankstoaltertheircorebusiness.Thiswouldbethecaseifbanksdecidedtoreducetheirexposuretoincreasedvolatilityofincome(stemmingfromtheaccountingrecognitionofinterestrateriskinthebankingbook)byshorteningtheaveragematurityofloans.Otherwaystoachievethesamegoalwouldbetherecoursetohedgingtechniquesandtheincreaseduseofvariableinterestrates.Thedecisiontoreducetheaveragematurityofloanswoulddependalsoonotherfactors,includingthenatureofcustomerdemandandthespecificcoststructureofindividualbanks.Second,theissueoffeasibility.Thereareseriousdoubtsthatanadequatefairvaluecanbedeterminedforbankl