European banks have substantial investments in assets that are measured without directly observable market prices (mark-tomodel). Financial disclosures of these value estimates lack standardization and are hard to compare across banks. These comparability concerns are concentrated in large...

European banks have substantial investments in assets that are measured without directly observable market prices (mark-to-model). Financial disclosures of these value estimates lack standardization and are hard to compare across banks. These comparability concerns are concentrated in large...