Level 3 asset


As determined by FASB 157, an asset for which an accurate fair market value cannot be calculated. A pricing model may be able to provide an estimate, but are generally illiquid. A mortgage-backed security might be a Level 3 asset.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Level 1 asset Level 2 asset