FAS 157, which is currently in effect, provides guidelines for how companies should determine fair value. For CRE market participants and CREFC, the focus is centered on hard-to-value (or “Level III”) assets and the issue of having to take current market pricing and conditions into account. 

September 30, 2008
CMSA Urges FASB and SEC to Temporarily Suspend Fair Value Accounting 

Comment Letters & Testimony 

April 29, 2009
Fair Value Coalition Statement 
Fair Value Coalition FAS 157-4 Example 

April 3, 2009
Business Coalition Statement on FASB’s Action

April 1, 2009
CMSA Comment Letter on Fair Value Measurement and Impairments

March 9, 2009
Industry MTM Letter to House Financial Services Committee 

January 7, 200
CMSA Urges SEC for Additional Flexibility on Fair Value Accounting 

October 9, 2008
CMSA Submits Comment Letter on FSP 157-d   

August 28, 2009
FASB Issues Exposure Draft Aimed at Improving Fair Value Measurement Disclosures

April 29, 2009
Fair Value Coalition White Paper 

April 27, 2009
Rep. Spencer Bachus Requests FVA Hearing

March 17, 2009
FASB Proposed Other-Than-Temporary Impairment Guidance

March 17, 2009
FASB Guidance on When a Market is Inactive or a Transaction is Distressed

March 16, 2009
FASB Meeting Handout on FVA and Impairment

March 12, 2009
Read CMSA's Testimony before House Subcommittee

December 30, 2008
SEC Report on Mark-to-Market Accounting

February 18, 2009
FASB Initiates Projects to Improve Measurement and Disclosure of Fair Value Estimates

October 29, 2008
SEC Holds Mark-to-Market Roundtable 

October 10, 2008
FASB Issues FSP 157-3 on Determining Fair Value in an Inactive Market

October 7, 2008
SEC Commences Work on Congressionally Mandated Study on Accounting Standards

October 3, 2008
FASB Issues FSP 157-d for Comment

October 1, 2008
E&Y Alert on Fair Value Clarifications 

September 30, 2008
Lawmakers Urge SEC to Suspend Fair Value Accounting

September 30, 2008
FASB and SEC Release on Fair Value Guidance

September 30, 2008
SEC and FASB to Provide Clarification on Fair Value Accounting 

January 5, 2007
Ernst & Young Alert on SEC Staff Expressing Concern about GAAP Compliance with FVM 

September 27, 2006
Deloitte & Touche Report on FAS 157: Fair Value Measurements Standard

September 15, 2006
FASB Issues Statement on Fair Value Measurements 

September 15, 2006
FASB Statement No. 157 – Fair Value Measurements